Preparations for selection of privatization councilor for sale of Methanol-Vinegar Complex from Kikinda

- The priority of company "Srbijagas", following the takeover of 63% of stocks of Methanol-Vinegar Complex (MSK) from Kikinda, is as quick as possible privatization of that factory, due to which the open competition for selection of the privatization councilor is being prepared - Miloš Tomić, general manager of "Srbijagas" pointed out.

Let us remind that MSK is now stockholding company. The factory was put into operation in the early 1980's and it produces methanol, acetate acid and natrium acetate trihydrate. However, big debts follow the operations of MSK from the first day, whereas in the last 15 years, due to problem with purchase of basic fuel - natural gas - the factory worked according to principle "stop-go".

Annual turnover of "Metanol" is about 50m USD and on the lists of the biggest exporters, which is published by Kikinda's Chamber of Commerce every three months, it is always among the top companies that gain profit on the foreign markets. But, present debts of Kikinda-based company are huge. Few years ago, the debts toward the Paris and the London Club amounted to over 60m USD, whereas its debts to the domestic creditors amounted to more than 15m USD.