"Bet Shemesh Engines" to become sole owner of Ada-based "Livnica preciznih odlivaka"

Israeli company "Bet Shemesh Engines" announced the bid today (November 26, 2009) on the website of the Belgrade Stock Exchange for takeover of 7.74% of "Livnica preciznih odlivaka" (LPOA) from Ada.

"Bet Shemesh Engines", which already owns 92.25% of stocks of "Livnica" (Foundry), offers the price of 280 RSD for common stocks of the Ada-based company, and the offer that was opened today expires on December 16th.

Nominal price of the stocks of Ada-based "Livnica" is 1,000 RSD, while the pondered price in the previous three months amounted to 278 RSD, which is also the market price.

The main activity of the factory in Ada is steel casting, while "Bet Shemesh" deals with production of parts for engines of gas turbines and propellers, reloading and servicing military and commercial machinery, as well as maintenance of components and spare parts for helicopter engines.

The bidder stated in its offer that it wanted to work with the management and employees of "Livnica" on improvement of the services offered by that company, as well as on employment of existing and development of new capacities through investments in equipment and improvement of efficiency.

The stocks of "Livnica preciznih odlivaka" entered the Belgrade Stock Exchange in April 2005.