First attempt to sell MSK Kikinda unsuccessful

The tender for the collection of bids for the sale of Metanolsko-Sircetni Kompleks (MSK) Kikinda expired on Friday, February 9, 2018, and, as RTS learns, was unsuccessful.

The documentation had been bought by the Cyrpiot holding Kronospan Chemical Ltd, but they had failed to submit an offer. Prior to the public invitation, allegedly, two investors were interested in MSK Kikinda, one of which was the Cypriot holding.

Experts place MSK’s potential partners into two categories. The first one features those who are looking to continue the current production program, under the condition of having gas, the main raw material, provided at a lower price, as this is the main obstacle to a cost-effective production.

– The second category contains those that offer investments in the production capacities, whereby a higher stage of processing of methanol and acetic acid products would be performed, which is incomparably more cost-effective and capable of accommodating the current prices of gas – Zoran Popovic of the Institute for Chemistry, Technology and Metallurgy told RTS.

MKS Kikinda has been operating since 1987. It currently employs around 530 workers. The complex exports 95% of the methanol it produces in the world market, and 98% of the acetic acid produced is exported primarily to the EU market, says Dragan Stevanovic of the Association for Chemical, Rubber and Non-metal Industry at the CCIS.

– They own over 250 rail cars, terminals at the Port of Bar and they have a great production potential – Stevanovic points out.

Although the first tender was unsuccessful, analyses show that this great potential could attract investors.

Zoran Popovic says that this is not purely theoretical, but a conclusion drawn from the contacts that representatives of MSK have had with potential partners so far.

The initial price in this first public invitation for bidding for the sale of 100% of MSK Kikinda’s capital was EUR 38.5 million.

MSK a.d Kikinda

Kronospan SRB d.o.o. Lapovo

Privredna komora Srbije

Metanolsko Sircetni Kompleks Kikinda

MSK

Kronospan Chemical

Kronospan Srbija

sale of MSK

sale of Metanolsko Sircetni Kompleks

Institute for Chemistry Technology and Metallurgy

Chamber of Commerce of Serbia

CCIS

Zoran Popovic

Dragan Stevanovic