Pančevo-based glassworks wait for response from Greece - fourth tender possible

Will there be the fourth tender for sale of the Pančevo Glass Industry? Workers from the glassworks and Privatization Agency still wait for the response from Greek company "YIOULA Glassworks", which participated in the previous tender.

After long negotiations, the Agency sent the text of the contract to Greeks and if it comes back without signature, there is willingness for announcement of the fourth tender because other potential buyers emerged in the meantime.

The sum that is mentioned in the negotiations about sale of 100% of capital of our former only factory of flat glass is 1m EUR. The obligation of the Greeks is to invest 30m EUR within next three years. The intention of the Greek company is to start producing glass packaging in Pančevo.

Potential buyers found the Glassworks' debt of 8m EUR too big, so that it was cut in half thanks to the state and local self-government. As Greeks demanded, the request for banking guarantee was also cut in half, from 6 to 3m EUR.

However, in spite of all these concessions, the citizens of Pančevo are not sure that Greeks will send a positive answer.