Property of "Matroz" for sale for the second time

The Privatization Agency of Serbia has announced today (April 13, 2009) the second open competition for collecting of bids for paper factory "Milan Stepanović Matroz" in bankruptcy.

According to the website of the Agency, the units for production of cellulose and paper, building facilities with equipment, printing shop and founding rights in "Matroz korohumus", the manufacturer of natural fertilizers, are offered for sale.

The value of property of the Sremska Mitrovica-based company is estimated at 1.64 billion RSD.

Public opening of bids is scheduled for May 25th in Belgrade. The condition for participation in the open competition is the purchase of dossier at the price of 250,000 RSD and the payment of deposit of 10m RSD prior to May 18th.

"Matroz" is in bankruptcy since August 2007, after three unsuccessful tenders.

The motor pool of "Matroz" was sold out at the beginning of the last year, and the stores in Sremska Mitrovica were sold at the auctions at the beginning of July 2008 at the prices that were significantly higher than their starting prices.

The first tender for sale of "Matroz" was announced on August 2nd, 2003, but there were not interested buyers. The second tender was announced on December 7th, 2005, and it was declared as unsuccessful on April 17th, 2006, because the only bidder offered low price insufficient investment programme.

The third tender was announced on May 11th, 2006, the deadlines were extended on several occasions, but the tender was declared as unsuccessful on March 5th, after the negotiations with the only bidder - "Pulp Mill Holding Gmbh".

The auctions for sale of the company’s property were scheduled for June 2nd and September 23rd, 2008, but there were no buyers interested in the company as a whole. The first open competition for sale of property of "Matroz" by direct agreement was announced in October 2008.

According to the data provided by the Business Registry Agency, "Matroz" ended last year with 5.8m RSD worth of losses, while the losses at the end of 2007 amounted to 2.46 billion RSD. The company had one employee at the end of the last year.