New tender for FRA most probably in April - more favorable terms for buyers

The factory of cutting tools (FRA) from Čačak will be offered for sale on the new tender, and the terms will be a bit more favorable for the buyers.

No one applied for the first tender - deadline for procurement of documentation was January 25th, and the deadline for bids was February 8 - although 7 companies, mainly from abroad, show their willingness to enter privatization, expressing interest in certain parts of the factory.

Management of FRA expects that the clause that the buyer must be either manufacturer or trader of cutting tools, with the business income in 2007 in amount of 7m EUR, will be excluded from the new tender that may be announced in April. They also expect that the wider circle of interested parties will be allowed to bid on the tender.