Zelezara Smederevo expects the first profit by the end of 2015

Executive Manager at managing team at HPK engineering, Peter Kamaras said on Saturday, October 3, 2015 that in the previous six months Zelezara Smederevo succeeded in decreasing losses and that the first profit is expected by the end of the year despite steel price decrease at the world market. He estimated that it would be a big mistake to shut down Zelezara since it is very important for the state.

- Over the past four months we saved tenths millions to the state – Kamaras said for Politika, explaining that people do not get the fact that the plant is making more for the state than the state is investing in it.

According to him, Zelezara is a good plant with good manpower and products which have market.

- It is a problem now with the steel price decrease in the world but we expect the first profit by the end of the year even with further price decrease provided that it is not a disastrous one and fall EUR 30 per ton – Kamaras said.

Kamaras confirmed that high furnace one at Zelezara Smederevo will be put into operation next week as well as that it takes 10 to 15 days to stabilize production and maximal capacities of 75.000 tins are expected after that.

Chinese interested in Zelezara Smederevo

Serbian prime minister, Aleksandar Vucic said on Saturday, October 3, 2015 that serious talks with Chinese company have been in progress which is interested in Zelezara Smederevo and that in November they could reach an agreement. He outlined that the objective of the Government of Serbia is that all 5000 people in Zelezara keep their jobs and that production increases.

Železara Smederevo d.o.o.

HPK Engineerig B.V. Holland

JP Srbijagas Novi Sad

Vlada Republike Srbije

Železara Smederevo

HPK inženjering

Peter Kamaraš

steel price

EPS

JRB

čelik

Aleksandar Vučić