Indian investor interested in purchasing IMT – Government to solve issue of former giants

The sale of the company IMT will be held on Monday, April 2, Prime Minister Ana Brnabic says and adds that an Indian investor, which intends to initiate the production, is interested in it.

– This will be of great importance for Serbia, just like the finding of a strategic partner for RTB Bor, an investment of USD 330 million, has a strategic importance. I hope that we will complete this by the end of the year – Brnabic said at the National Assembly of Serbia.

She underlined that the Government of Serbia looked to resolve the bankruptcy proceedings in some of the big brands of Serbia and said that she was especially glad that “the Galenika job has been completed”.

According to her, two parts of Magnohrom Kraljevo have already been bought and the production is to start, whereas there are ongoing negotiations about the third part.

– It’s important for the production to be initiated. The plan is to employ 600-700 people. That’s a small number compared to how many Magnohrom used to employ, but it’s still something. We will bring back the trademark and the hope for Serbia to get back up on its feet – Brnabic said.

IMT d.o.o. Beograd

Vlada Republike Srbije

Serbia Zijin Copper doo Bor

Galenika a.d. Beograd

Magnohrom d.o.o. Kraljevo

Industrija motora i traktora

IMT

Government of Serbia

RTB Bor

Galenika

Magnohrom

privatization of IMT

privatization of RTB Bor

privatization of Galenika

privatization of Magnohrom

Ana Brnabic