"Factis" to remain adviser in process of privatization of IHP "Prva petoletka"

Company "Factis" will keep providing consulting services in the process of restructuring and privatization of Trstenik-based holding IHP "Prva petoletka".

"Factis" has been engaged in the project for privatization of that company since December 2003, and it actively participates in the preparations and selling activities during the three announced tenders.

The Privatization Agency has, once again, selected "Factis" for the adviser because that company is familiar with all the details of the project, it has complete insight into the operations of "Prva petoletka" and specific problems that the company is facing, and it also owns complete documentation.

Previous privatization attempts were not successful because "Prva petoletka" is a specific and complex company with large number of employees and dependent companies that operate in various fields.

Privatization of Industry of hydraulics and pneumatics "Prva petoletka" was not successful, so that the decision was made that the strategy for further privatization be changed and that the procedure for separation of dependent organizations from the Holding should be started.

System "Prva petoletka" is big and specific, and it comprises 11 dependent organization and 6 independent enterprises, which currently employ about 5,000 people.