State has no plans to give up majority ownership in Namenska – Two investment cycles planned

The state has no intention of selling majority ownership in the Milan Blagojevic - Namenska factory, although there have been several offers from various sides, said Serbian President Aleksandar Vucic.

– Everyone wants 51%, they are not interested in minority packages. And they are all eyeing Lucani. They also want Sloboda from Cacak, but I have never seen in my life anybody wanting anything like they want Lucani – said Vucic during a tour of the aforementioned factory.

Namenska produces nitrocellulose, gunpowder, rocket fuels and propellant charges, and according to Vucic, exports are restarting.

– We have unlocked something, it is moving, there will be no problems there. Our army is placing increasingly large orders. We will make sure that the warehouses are emptied and that there are no security or any other problems there – said Vucic, stating that the factory was of strategic interest to Serbia.

He added that the ammunition for the “Nora” self-propelled howitzers and the entire missile artillery depended on the Milan Blagojevic - Namenska factory, and that everything that factory did contributed to strengthening the country’s defense system.

He also announced two new investment cycles for that factory, primarily concerning tri-base gunpowder, stating that it was of key importance for the entire defense industry and the Serbian Army, adding that the state wanted to help by purchasing the most modern equipment.

He stated that the company’s finances were not in a bad state, but that the state would help settle the debt to Elektroprivreda Srbije (EPS) of EUR 35 million.

MB Namenska Lučani

Sloboda a.d. Čačak

Elektroprivreda Srbije ad Beograd

Milan Blagojević Namenska Lučani

Sloboda Čačak

Elektroprivreda Srbije

Aleksandar Vučić