"Belinka" merged to company "Helios" - Slovenians think of Belgrade-based "Duga"

Stockholders of companies "Helios" and "Belinka" confirmed the decision about merger between "Belinka" and company "Helios" at the Assembly held on August 21, 2007.

Administrations of these companies started the procedure formally by signing the contract at the end of June. The next step followed in the second half of July when the proposal was confirmed by the supervisory boards of companies "Helios" and "Belinka".

Story about merger and creation of strong pillar in the industry of coatings, under the authority of "Helios", has been definitely finished. At both meetings, stockholders agreed on merger, confirmed the reports made by administrations, auditors and supervisory boards, as well as proposal for exchange of stocks.

In that way, owners of stocks of "Belinka" will get 1 stock of "Helios" for 43.5 stocks of "Belinka".

The Administration of "Helios", where one of two vice presidents will be former president of administration of "Belinka", Branko Paš, will have to, according to forecasts, invest much effort in improvement of operations of Belgrade-based "Duga", of which majority owner "Belinka" became two years ago.

Company that employs 54% of all employees in "Belinka" is not in such good position today as it used to be. It has good production program and market position, so that, in cooperation with "Zvezda-Helios" from Gornji Milanovac, of which business results are improving, it has great chances for integration into "Helios" group.