New deadline for potential buyer of Šabac-based "Zorka" to supplement documentation

British company MIDL, which is the only participant in the second tender for sale of Šabac-based "Zorka", got additional 10 days from the tender commission to complete its documentation.

In comparison with the first tender, buyers are now offered more favorable terms because the state wrote off the debts toward public companies and about 300 workers left the factory with severance pays. Basic obstacle for the procurement of former chemical giant are debts, about 50m EUR, towards foreign creditors.

"Zorka" will be sold as a whole, with ten enterprises and the most important factories of mineral fertilizer and zinc electrolysis. These two factories were previously rented on three years.

Šabac’s concern "Farmakom MB" used to deliver about 100,000 tons of mineral fertilizers to the market every year, whereas Indian company "Binani" had organized production of zinc, but it did not respect contract terms and left the debts behind, mainly for electricity bills.

Since spring 2007, none of Zorka’s units has been working and current 900 workers live from the government’s aid until the buyer shows up.