Tender announced for privatization of Serbian glass factory in Paraćin, tender dossier to be issued prior to July 3, 2006

The Privatization Agency of Serbia announced a tender for the sale of the Serbian Glass Factory (SFS) in Paraćin, following the company’s restructuring and cutting the number of employees from 3,500 to about 2,000.

The deadline for offers to be submitted by buyers interested in the factory’s public assets is June 30, 2006, but the request for purchase of the tender dossier, which "costs" 6,000 EUR, should be submitted by July 3, at the latest. The total registered assets in the glass factory is made up of 98.86% public and 1.14% stock capital. The glass factory, after restructuring, has 3 of the previous 6 companies left: "Ambalažno staklo" (Packaging Glass), "Ručno trgovačko staklo" (Hand Trade Glass) and "Mašinsko trgovačko staklo" (Machine Trade Glass).

The Serbian Glass Factory in Paraćin was already on a tender, but unsuccessfully, since the only interested buyer, Greek “Jula”, didn’t offer an adequate compensation.

The Agency has now broadened the “list” of possible buyers to all those who have been in the business of producing or selling glass or glass products for at least three years in continuity and who have realized an income of at least €15m in 2005.

There are also juristic persons (investment companies, joint funds and investment banks) who exist for at least 3 years and have total business assets of more than 100m EUR in 2005.