Petoletka to carry out EUR 8 million projects in 2014 - Potential buyers still await Privatization Law

Several foreign investors interested in some subsidaries of Trstenik-based Prva Petoletka (PPT) cannot acquire them until the Privatization Law is adopted.
PPT CEO Ljubisav Panic said Tuesday (18 March 2014) that the Italian company Alfa valvole, engaged in the production of valves for pipelines, was interested in the privatization of Industrijska pneumatika and that it had sent a letter of intent to the competent ministry back in October 2013.

- After they received a reply that negotiations could start, a meeting attended by the representatives of the Privatization Agency, the Serbia Investment and Export Promotion Agency and the Serbian Chamber of Commerce was held on February 6 on the SIEPA premises. Although all attendees agreed that Alfa valvole's offer was satisfactory, our delegation was unable to give a concrete response to the investor when asked about privatization terms - he explained.

Panic claims that investors insist on quick response, stressing that Amkodor from Belarus, which eyes three PPT factories - Cilindri, Servoupravljaci, and TMO, was also told to wait for the new Privatization Law.

According to him, PPT implemented EUR 33 million worth of projects last year, 10% less than in 2012. In the first quarter of this year, the value of projects implemented by PPT reached EUR 8 million, which is approximately the same as last year.

PPT currently employs 3,200 workers. Last year, 640 employees left the company based on the company social plan.

Prva Petoletka a.d. Trstenik

PPT-Industrijska pneumatika a.d. Trstenik

Agencija za privatizaciju Republike Srbije Beograd prestala sa radom 29.01.2016.

Agencija za strana ulaganja i promociju izvoza SIEPA

Privredna komora Srbije

АMKODOR Belorusija

PPT Cilindri a.d. Trstenik - u restrukturiranju

PPT Servoupravljači a.d. Trstenik - u restruktuiranju

PPT-TMO Trstenik

PPT Armature a.d. Aleksandrovac

ALFA VALVOLE Italija

PPT

Privatization Law

Ljubisav Panic

valves

Industrijska pneumatika PPT