Hemijska Industrija Zupa in bankruptcy put up on sale – Property estimated at RSD 1.58 billion

The trustee in bankruptcy of Hemijska Industrija Zupa, which has been in bankruptcy since July 2015, has called the sale of the enterprise as a legal entity. Zupa Komerc, a subsidiary which operates successfully and employs around 60 workers, hopes to find a serious buyer to expand the production and employ more people.

– We have been working all this time on putting the factory back on its feet, so that it could be privatized, and the management and the workers expect to find a serious buyer who will continue and expand the production which we’ve started – said the director of Zupa Komerc, Bojan Cvetkovic.

In nine months of 2016, Zupa Komerc produced 1,000 tons of floatation products for mines in Bor and Majdnapek, Bulgaria and Kosovo, packed 350 tons of chlorine for Macedonia, Montenegro and Bosnia and Herzegovina and a part of the Serbian market and produced 300 tons of hypochlorite.

The factory, which, as Cvetkovic reminded, started producing in September 2013, when most workers left Zupa using the social program, has brought back a number of employees, ended 2015 with RSD 12 million of profit and is meeting all its obligations on time.

The sales ad states that the bid submission deadline is November 28, that the property has been estimated at RSD 1.58 billion, and that the deposit needed for participating in the bidding amounts to a little over RSD 316 million.

The property on sale encompasses 126 facilities, the most important of which are an additive factory, the head office building with a laboratory, several warehouses, a locksmith workshop, a zinc and magnesium sulfate crystallization facility, alkaline chromium sulfate and xanthate facilities, xanthate pelletizing and sulfuric acid production facilities, a restaurant, a carbonate facility and liquid raw materials storage.

HI Župa a.d. Kruševac

Župa komerc 2006 Kruševac

Hemijska Industrija Zupa Krusevac

Zupa Komerc

privatization of Zupa

Bojan Cvetkovic

chlorine

hypochloride

Zupa social program

HI Zupa in bankruptcy

additive factory

zinc crystallization

magnesium sulfate crystallization

chromium sulfate

xanthate

xanthate pelletizing

production of sulfuric acid

sulfuric acid