New hope for Pirot-based Tigar – Production reorganization and rubber mix plant totaling EUR 1,6m underway

Pirot-based Tigar prepared reorganization plan for the period of seven years thanks to which the company management is expecting business consolidation and simplification of organization of work. Apart from that, the construction of the plant for production of rubber mix will start soon and it should end in 2015, company reps said on Friday, September 26, 2014.

- Pirot-based company returned the trust of trustees which was confirmed with the acceptance of the Prepack Plan - GM of Tigar, Nebojsa Djenadic, said.

Plan was generated upon the suggestion of the biggest trustees with an objective to reprogram debts and maintain production growth.

Tigar is also planning implementation of necessary investment thanks to which, with forecast of EUR 27m of profit this year, the amount would double by the end of 2019. They are planning construction of new rubber mix plant totaling EUR 1,6 m. They are finishing development of project documentation and the plant will be built next year. It will be fully compatible with the existing shoe plant, Tigar announced.

In September 2014, Tigar’s share price at the stock market generated rise of 66,67%, with the trading scope increase at the same time.