Bulgarian "Rubin" to take oveer Serbia Glass Factory "Paraćin"

- The buyer of Serbian Glass Factory in Paraćin, Bulgarian company "Rubin" from Pleven, will officially take over that factory on February 16, 2007 - the President of Trade Union Independence of that factory, Borivoje Jevtić, announced.

He said that the takeover of the factory will take place after the new owner gives the banking guarantee of 25m EUR and meets the condition that more than 90% of workers sign out-of-court settlement for payment of late debts.

Serbian Glass FActory in Paraćin was sold on November 9, 2006 to "Rubin" for 100,000 EUR, with the obligation of the buyer to take over all debts and to invest 25m EUR into production. It is estimated that the Bulgarians will invest more than 50m EUR in Serbian Glass Factory.