Redefinition of system's corporate structure - status changes in "Energoprojekt"

The administrative boards of "Energoprojekt holding" and their dependent companies have decided for introduction of status changes within the scope of the "Redefinition of the System's Corporate Structure" project.

In the announcement that was published today (December 2nd, 2009), the holding stated that the performance of "Energoprojekt" in the conditions of the crisis imposes the need for finding adequate solutions to emerging problems, reducing danger to functioning of the system and achieving its economic security.

The status changes should ensure enlargement of the system of "Energoprojekt", better and more efficient management of resources, greater coordination and control of business activities, as well as higher profitability of the parts and the system as a whole.

It has been suggested that "Energoprojekt Hidroinženjering" should merge with "Energoprojekt Entel" and then change the name into "Energoprojekt Consulting".

The plan is that "Energoprojekt urbanizam i arhitektura" ceases to exist and transfers the property and obligations to "Energoprojekt industrija", which would then be named "Energoprojekt arhitektura i industrija".

New merger is also planned for "Energoprojekt visokogradnja", which should merge with "Energoprojekt niskogradnja" and change the name into "Energoprojekt izgradnja".

"Energoprojekt energodata" should also cease to exist and transfer its property and obligations to "Energoprojekt oprema".

Business system "Energoprojekt", which was founded in 1951 as an architectural company, gathers 18 companies in the country and over 40 companies abroad.

The stocks of "Energoprojekt" entered the Belgrade Stock Exchange in May 2001. They are on A listing and their current price amounts to 881 RSD. The maximum value this year was reached in September - 1,140 RSD, while the minimum value of 280 RSD was registered in March.