24.01.2007. - State-owned capital in "Industrija alata"/Tools Industry Trebinje privatized

 

The Contract on Sale of the State-Owned Capital in the enterprises of Poslovni sistem "Industrija alata" Trebinje (Business Group "Tools Industry" Trebinje) has been signed in the Directorate for Privatization. The buyer of total state-owned capital is Concern Swisslion-Takovo, Limited Liability Company, Food Industry Belgrade.

 

The Contract on Sale was signed by the Director of the Directorate for Privatization, Mr. Vladimir Mackic and the President of the Management Board of the Concern Swisslion-Takovo, Mr. Milan Nikolin. The selling price for the object of sale is 1,500,000.00 KM.

 

Pursuant to the Contract, the buyer is committed to making an investment amounting to the total of 17,113,513.00 KM, according to the following scheme:

 

• in the First Year of the Investment Period at least 9,251,077.00 KM
• in the Second Year of the Investment Period at least 4,840,680.00 KM
• in the Third Year of the Investment Period at least 3,021,759.00 KM

The buyer is also committed to employing, on average, at least 1,192 employees on a permanent, full-time basis in the First Year of the Employment Period. Upon expiry of the five year Employment Period, the number of employees should be increased to at least 1,340. In the procedure of internal organizational restructuring, the Buyer is committed to establishing and implementing a programme of social care for employees in accordance with positive regulations.

 

The buyer is also committed to keeping the core activity of the Enterprise for 3 years after the execution of the privatization.

 

The conclusion of the Contract, as highlighted by the President of the Managemnt Board of the Concern Swisslion-Takovo, Milan Nikolin, has a manifold significance, mostly for the employees of Poslovni sistem "Industrija alata Trebinje, who, as of today will become a part of a big and successful family which pays special attention to the constant care for the workers and improvement of their social position. Nikolin added that Poslovni sistem "Industrija alata" Trebinje was to face a re-organization of its status, with the aim to establish a more efficient organization in order to increase the competitiveness of the products.

 

The agreement for signing the Contract on Sale of the state-owned capital in the enterprises of Poslovni sistem "Industrija alata Trebinje with Concern Swisslion-Takovo was given by the RS Government at its session held in Banjaluka on 2 November 2006.