Tender for sale of Pančevo-based "Staklara" extended

The Privatization Agency of Serbia announced today (January 13, 2009) that the deadline for submission of bids for purchase of Glass Industry Pančevo had been extended until February 20th, 2009.

The previous deadline for submission of bids on the repeated tender for sale of “Staklara” (Glassworks), which was announced in October 2008, was December 19th.

“Having in mind all the available information”, the Agency decided to give additional time of two months to make it possible for the interested buyers to prepare their bids.

The previous tender for sale of the Pančevo-based factory, which is in restructuring process, has been declared unsuccessful because the only bidder, Greek company “Yioula Glasworks”, gave up the contract signing.

The glassworks from Pančevo is the only manufacturer of flat glass in Serbia and it has the capacities for production of glass for automobile industry, special glass and medical packaging.

The factory that has about 400 workers owns facilities at 150,000 square meters. The company’s capital has been estimated at about 17m EUR, while the debts amount to 6m EUR.