Privatization Agency announced second public invitation for sale of "Zlatara Majdanpek" at starting price of 4m EUR

The Privatization Agency announced the second invitation for sale of “Zlatara Majdanpek” yesterday (March 16, 2009), at the starting price of 4m EUR.

The first auction for sale of once the largest manufacturer of jewelry in SFRY was declared unsuccessful because none of the interested buyers was willing to pay the starting price of 6.5m EUR for the company.

"Zlatara Majdanpek", which is a part of Metal-processing industry "Majdanpek", has 344 workers. In addition to jewelry production unit, forge, the unit for production of decorative products, chemistry and metallurgy units, administrative building, central warehouse and branch office in Belgrade, this factory also owns 10 outlets in several cities in Serbia and Podgorica.

As the largest manufacturer of jewelry in SFRY, "Zlatara Majdanpek" had been producing over 2.4 tons of jewelry per year prior to the introduction of sanctions, half of which had been exported, mainly to the US market.