Bankrupcy procedure introduced in the biggest sugar factory on the Balkans

The trade court in Zrenjanin opened a bankrupcy procedure in the Industry of products from processed corn, on the request of several trusties, among whom is in front "DSD Tabako" from Belgrade. The biggest sugar factory on the Balkans, entered bankrupcy after several years of agony and business losses, which have almost reached the value of the factory's capital of 870 millions dinars.

A similar destiny awaits also Zrenjanin's "Zitoprodukt", which has been since decades ago the largest manufacturer of flour, bread, dough products and pasta on the territory of Banat. After the sale of a part of its property, in order to set pay checks to the workers, the price of the capital of Zitoprodukt has been drastically decreased to 1.3 millions dinars, but even that was too high, and the third auction sale failed as well. Concluding from that, it is even more clear that bankrupcy is around the corner, after which Zitoprodukt could be privatized.

Zrenjanin sugar factory is a third in row of food producing factories from the past system of "Servo Mihalj", which is at the moment a target of trusties. After insuccessfull last years campaign of sugar turnip and affair made with metal sawdust in sweet crystal, there was a conflict between the director Dragan Mitrovic and the Managers Board of the factory. In the factory which is 60% in state's property came new director Djordje Radu, and now the sugar factory waits for sale on tender or liquidation.