"Tigar" withdrew from production of car tires - Assembly of stockholders accepted proposal for sale of 30% of stocks to company "Michelin"

Yesterday (February 27, 2008), at the special meeting, Assembly of stockholders of Pirot-based "Tigar" accepted the proposal of the Administrative Board to leave production of car tires, that is, to sell its share of 30% in joint factory with French company "Michelin" - "Tigar Tyres" to this tyre giant.

That practically means that the company from Pirot accepted the price of 2.7 billion RSD for 30% of stocks in "Tigar Tyres", which will be paid to them in three installments prior to year 2010.