Auction for sale of Zastava Elektro postponed until April 9th

Public auction for sale of stock company Zastava Elektro in Rača has been postponed until April 9th. According to the website of the Privatization Agency, the starting price of the production halls and other facilities of that company, along with the right to use of land where it is situated, amounts to 2,969,000 EUR, while the buyer is also obliged to employ minimum 1,000 people.

Stock company Zastava Elektro, in restructuring, deals with trade in electric equipment and installations. Auction is a part of the regular procedure that follows the cancellation of the privatization after the workers were on strike for several months.

According to some earlier announcements by the Minister of Economy and Regional Development, Mlađan Dinkić, South Korean corporation Yura, which manufactures car parts, is interested in the company in Rača.

According to Dinkić, after the takeover, production in Zastava Elektro may start again in June.