"Avtodetal service" to become majority owner of "Ikarbus" soon - Russians announced procurement of another 0.5% of stocks

Sergej Polibin, the owner of Russian company "Avtodetal service", announced yesterday (October 8, 2008) that the company would soon buy another 0.5% of stocks of "Ikarbus" on the Belgrade Stock Exchange in order to become the majority owner.

Polibin, who came to Belgrade accompanied by the team of managers of the company in order to talk with the management of "Ikarbus" about business plans, did not want to specify the date when the additional stocks would be bought.

- Business strategy of "Ikarbus" for the next five years will be finished prior to end of November. We intend to export major part of production to the markets of Russia and Eastern Europe - said he.

Asked whether "Ikarbus" will resume cooperation with Italian company "BredaMenarinibus", Polibin pointed out that the company's priority would be to satisfy the demand in the east of Europe, while the remaining buses would be exported to the markets of Italy and EU.

Polibin could not specify the amount of projected investments in "Ikarbus" or whether the number of workers would be reduced because, as he pointed out , "potentials and opportunities for development of production are currently taken into consideration".

- Our plan is to introduce new production lines in "Ikarbus" - he added.