Company "Zavarivač" from Vranje on tender - tender documentation available starting October 8

Privatization Agency has announced public invitation for participation in tender for sale of stock company "Zavarivač" from Vranje. Deadline for delivery of obligatory bids is December 7, 2007. Total of 40.20% of company’s capital is offered for sale, 30.2% of which is owned by the Share Fund, and 10% is owned by the Pension and Disability Insurance Fund.

The bidder will be obliged to offer price for all stocks of the company, that is, even for the stocks of stockholders who own 59.7% of capital, because the Share Fund will sent invitation to stockholders, after the bids are ranked, to add their stocks to the stocks from the portfolio of the Share Fund.

Potential buyers, according to the tender terms, should deal with production of standard metal products, other than machines and appliances, they should be in that business for at least three business years and their business income in 2006 should be at least 10m EUR.

Tender documentation will be available to all interested persons starting from October 8. Precondition for submittal of bids is deposit or auction guarantee worth 50,000 EUR.

Stock Company "Zavarivač" Vranje was founded on November 21, 1970 as a public company. Following the completion of the privatization procedure, this company changed its form of organization into stock company whose majority owners are minor stockholders who own stocks in amount of 60% of the company's value.

Basic activity of the company is production and installation of steel structures and structure parts, and it is important to mention that it also produces boilers of all types.

"Zavarivač" sells part of its production on domestic market, and it also export its products to the countries of European Union.