Cimos sells Livnica Kikinda and Srebrenica-based plant

Due to business optimization, the Slovenian company for production of motor vehicles components, Cimos, will sell in Serbia a large foundry "Kikinda AI" and a smaller foundry "Krusik - Precizni Liv".

Cimos in Srebrenica will also get a new owner, Seebiz portal reports and reminds that the company has already sold "Litostroj Power" and "Cimos Titan".

Thus, Cimos is looking for savings in millions in procurement, sales, supply chain and fixed cost and the major savings are expected in labor force. Layoffs will decrease labor costs by 15 percent and EUR 8,4 will be set aside for reimbursements.