Deadline for Simpo’s debt conversion extended

(Photo: simpo.rs)

Instead of ending entire debt conversion process in Simpo by September 15, where the state would become majority owner of 80%, deadline was extended until November 15, and upon the request of the Vranje-based company management, GM Sladjan Disic confirmed for local media.

The conversion process would enable that the Government of Serbia as majority owner at Simpo starts privatization process with easy loans which would enable new production start, first of all furniture production as primary activity.

The latest information shows that Simpo’s headcount totals 4.100 people, only one fifth of which operates machines for now.