Union-medic signs agreement to rent Zrenjanin-based Jugoremedija factory

Novi Sad-based Union-medic today signed an agreement to rent Zrenjanin-based Jugoremedija pharmaceutical plant. The lease will last until the end of the bankruptcy proceedings or until the adoption of the amended reorganization plan.

The agreement was signed by Jugoremedija Bankruptcy Manager Radovan Savic and Union-medic`s owner and Director Milan Selakovic.

- Union-medic was the sole bidder at the public auction, and it has agreed to pay a monthly rent of EUR 50,000 and provide a guarantee for EUR 500,000 - Savic told Tanjug news agency.

The money from the rent will be used to cover the expenses of bankruptcy proceedings, whose duration has been extended after Alpe Adria Bank and Belgrade-based Blue Rose submitted the amended reorganization plan to the Zrenjanin Court of Commerce.