Privatization Agency negotiates with Dutch "Philip Morris Participaticon" about sale of DIB

Privatization Agency has announced today (September 9, 2008) that it will negotiate with company "Philip Morris Participaticon" from Netherlands about sale of Bujanovac-based company for production and refining of tobacco and tobacco foil DIB.

Total of 57.7% of capital of DIB is offered for sale on the tender and "Philip Morris" is the only bidder.

Company "Philip Morris" owns Tobacco Industry Niš (DIN) in Serbia since year 2003.

DIB, which has 53 employees, has the annual production capacity of 2,000 tons of tobacco foil and it annually produces 100 tons of small-leaf tobacco.

The company's incomes in 2006 amounted to 1.3m EUR, 96.67% of which was realized on local market and 3.33% in the countries of former Yugoslavia.

The factory owns 50,072 square meters of land, while the total surface of building facilities is 20,537 square meters.