Election of financial adviser for the Factory of rolling beddings and cardans FKL Temerin, Minel Transformers Ripanj, Optika Belgrade, AD Radiator Zrenjanin

Agency for privatization invited yesterday all interested parties and qualified consultants who wish to participate at the selection of financial counciler in the privatization process of the Factory of rolling beddings and cardans FKL Temerin, of the company "Minel Transformers" Ripanj, of the Belgrade's "Optika" and AD "Radiators" Zrenjanin, no later than March, 15th should deliver the needed documentation.

In the public invitation was mentioned that the right to participate in the selection have consultant houses with relevant experience in the privatization process and preparation of companies of specific industrial field for the privatization, as well as that the procedure of the choice of the best offer is financied through a donation from European Agency for reconstruction.

Considering the companies, in the public invitation was given, for example for FKL, that most of its profits (in 2003, there was 53, and in 2004, 57 %) were gained in foreign markets, that it marks an increase of the sales profits (from 7.16 millions to 9.25), as well as an increase of the made neto profit (from 0.03 to 0.04 millions eur). The Agency is offering for sale 70% of community capital of FKL, which is 98.63% of the total capital.

Also, the company from Zrenjanin, "Radiator" for manufacture of kettles and radiators for central heating, most of its profit (around 63%), which was in 2004 around 7.3 millions eur with a neto profit of 1.16 million eur (which is almost as twice as in the previous year) is made in the foreign markets. By accounting report the property value of this company for the year 2004 was 18.2 millions eur and 21.5 millions of the capital. The states capital which Agency is offering for sale in a 100 % value, is 50.62% of the total capital, while the private is 49.38%

In the structure of capital of the company "Minel Transformers" the state's capital is 87.25% and the share holders part 12.75%, which means that by selling 70% of the community capital is actually an offer of 61.1% of the total capital. For this company there is 316 employed, and it is also given that it finished 2004 with positive business results, that is, with a profit of sale of 6.2 millions eur and a neto profit of 0.1 million, while the company's capital and total activity were 2, that is 3.5 millions eur. The company doesn't have at the moment siginificant obligations towards the state, or any other trusties, that is to the suppliers or emploees, and it owns a share in the company "Minel Sreder".

Finally, the Agency needs a financial adviser for the privatization of the company "Optika", from Belgrade which gains its profit strictley at the national market, it hires 344 workers and owns numerous retail objects across Serbia, out of which at least 30 in Belgrade. "Optika" is the only one of mentioned companies that had losses in the years 2003, 2004, of not so significant 8.000, that is 27.000 eur and a fall of sale profits from 3.5 to 3.3 millions eur. In relations to that the reported property value has fallen (from 4.7 to 4.3 millions eur) and of the capital (from 3.3 to 2.9 millions eur), and in its infrastructure state participates with 58.4%, private capital with 38.54% and community capital with 3.06%

Agency for privatization, Factory of rolling beddings and cardans FKL Temerin, Minel Transformers Ripanj, Optika Belgrade, AD Radiator Zrenjanin, EAR