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Deadlines extended for offers for ISP glass factory

Post Time:Feb 17,2009Classify:Industry NewsView:143

Serbia’s Privatization Agency extended, for the third time, the bidding deadline in the tender for 100 percentof the glass manufacturing company Industrija Stakla Pancevo, to March 20. The tender was announced in October, without setting a minimum price.

Under the terms of the tender, offers will be considered only from companies active in glass manufacturing or trade over the past three years with at least 4 million euro [$5,109,720]in annual revenue. The two previous attempts to sell ISP failed–both with Greek Yioula Glassworks being the sole bidder for the Serbian glass maker.

Founded in 1930, ISP had a net loss of 2 million euros [$2,554,860]in 2007, down from 3.3 million euros [$4,215,519]in 2006. It produces flat glass, glass castings, safety glass for vehicles and glass items for medical packaging. Its assets also include 150,000 square meters of land in Pancevo, according to a Feb. 17 report on Balkans.com.

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Source: http://www.glassmagazine.com/news-item/commercial/deadlines-extended-offers-isp-glass-factoryAuthor:

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