"Želvoz" sold for 1.15m EUR to Romanian consortium

Privatization Agency announced today (December 11, 2007) that company "Želvoz" from Smederevo had been sold to the consortium of Romanian companies "Grampet" and "Remar" for 1,150,000 EUR.

According to the contract on sale, 70% of capital will be sold and investment program worth 7.5m EUR must be implemented. The consortium that was the only bidder on the tender unconditionally accepted all obligations from the social program.

As the Agency announced, the decision about signing of the contract with Romanian consortium was made at the third meeting of the Tender Commission, which was held yesterday.

The Agency reminds that social program had been backed by all three representative trade unions in the company - "Nezavisnost", "Samostalni sindikat" and "ASNS Solidarnost", before it was signed by the representative of Workers’ Labour Union Movement of "Želvoz".

The factory has 1,700 employees and high-quality factory halls that occupy surface of more than 10 ha. The value of the factory estimated few years ago amounted to 38m USD.