Owner and Nis-based Nisal and Newmet from Switzerland establishes new enterprise

Domal-inzenjering, the owner of Nis-based Nisal, and Newmet, a Swiss company headquartered in Moscow, have established a new enterprise called Newmet Nisal and resumed production totaling about 400 tons of products from aluminum and aluminum alloys monthly.

The Swiss company holds a 70-percent stake in the new company, while the rest is in the possession of Domal-inzenjering, Newmet Nisal CEO Petar Stankovic told the press on the Day of Open Doors at the factory, which brought together business partners and prospective buyers of aluminum products.

As he explained, it is likely that Newmet Nisal and Nisal will merge if the ongoing pre-bankruptcy proceedings against the latter end in a success.

- The aim of the new company is to increase monthly production to 600 tons by the year's end, to penetrate new markets and return to the domestic market with its product portfolio - said Stankovic.