The Dutch to buy starch factory IPOK Zrenjanin, construction of another factory ?

Dutch company GP Partners and Zrenjanin-based Industry of Corn Products IPOK have signed the new contract on four-year rental of factory, but both sides hope that the Dutch will become majority owners of the biggest starch factory in Serbia before the expiration of the contract.

Ownership-legal relations in starch factory have not been settled yet and they are very important for additional capitalization of the company. On the other hand, the production-technological recovery is very successful. Prior to the end of 2005, 17,000 tons will be processed, the equipment will be reconstructed and production capacities expanded, which will cost 5 mil din. Another €0.5m will be invested in the reconstruction of equipment, which will increase production capacities from 50,000 to 80,000 tons. Construction of another factory is in the pipeline.