Uniprom buys Minel FEPO Zrenjanin – young experts needed

“We want to return Minel FEPO to its old glory and to organize in its factories an export-oriented production of transformers and electrical systems for the world market”, said Siniša Kocić, the owner of Belgrade Uniprom, after purchasing the ruined factory in Zrenjanin.

The new owner of the former industrial mainstay of this city on the Begej agreed to pay 215 million dinars for the production halls and other properties of Minel FEPO, 96 million more than the amount set as a minimum by the creditors’ board. This was considerably more than a competing offer from FMP Zaječar, which was also interested in continuing the production of electrical installations.

Andrijana Živanović of the Agency for Licensing Bankruptcy Administrators was more than satisfied with the successful completion of the second sale of the debtor Minel FEPO. The buyer has 30 days to pay the bid amount. Živanović believes that the Belgrade company, which trades in and produces low-voltage equipment and switches, will meet its obligations on time and take over the facilities in Zrenjanin.

“We will need people who once worked in this factory, and more young professionals who want to work and prove themselves. In the next few months we will make a selection of interested candidates to help in rebuilding production”, explains the new owner of Minel FEPO, convinced that the company will first return to the markets of Russia and Algeria where it used to sell electrical installations successfully.

The Zrenjanin plant ended in bankruptcy in 2012 after the failed privatization directed by Nenad Popovic and his consortium. Minel FEPO went bankrupt because, as a guarantor, it had to repay the debt of Minel transformers in Ripanj, to the tune of 136.3 million.

Translation provided by: www.halifax-translation.com