Slovenian group "Primorje" took over Company for Roads "Požarevac"

Slovenian Building Group "Primorje" had taken over 70% of stocks of company for roads "Požarevac", that Slovenian company announced.

The representatives of “Primorje" stated that the takeover had taken place in December 2005 and that its total value had amounted to €3.5m. The company plans to invest another €857,000 in modernization of equipment of the Serbian company for construction of roads.

Company for Roads "Požarevac" maintains roads in northeast Serbia and employs 330 workers, who own remaining 30% of the stocks of the company. This company’s income in 2005 amounted to €625,000.

The management of "Primorje" plans to develop operations of Company for Roads "Požarevac" in order to make this company the bulding company that will, in addition to maintenance of roads, deal with construction of apartments and waste treatment units, as well as production of elements for construction of factories.

Preliminary data show that group "Primorje", with the headquarters in Ajdovščina, realized income of €333.94m and profit worth €4.17m in 2005.