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SERBIA - Glass Plant Needs EUR 13 Million

Post Time:Feb 18,2009Classify:Company NewsView:329

In order for the Paracin-based glass plant can operate regularly, it is necessary to invest between EUR 13 and 14 million.

The previous owner, Bulgaria-based Rubin did not have the money. Srbijagas is to take over the overly-indebted glass plant but whether the company will be ready to invest such amount in the equipment and production is still in question.

The plant’s management expects Srbijagas will provide the money for the beginning, and Rubin would enter the operations and take the plant back when it recovers its losses.

Rubin has so far invested EUR 7.5 million out of the agreed EUR 25 million.

Source: Politika, limun.hrAuthor: shangyi

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