Contract on sale of stocks of "Ikarbus" canceled

- The contract on sale of stocks of Belgrade-based "Ikarbus" to Russian company "Avtodental" has been canceled because the obligations stipulated by that document have not been fulfilled - the Privatization Agency announced yesterday (September 3rd, 2009).

It is stated in the announcement that Russian "Avdodental", even after the expiration of the second, consequent deadline, failed to fulfill the obligations from the social programme and submit the banking guarantee, as well as that it was not using the property of "Ikarbus" in accordance with the regulations from the privatization contract.

During the special inspection that was carried out on August 20th, the Privatization Agency determined that the last salary paid to workers was for February, that is, that the net salaries for the period March-June 2009 have not been paid yet.

- Total projected debt for unpaid net salaries, as well as taxes and allowances for the period December 2008 - June 2009, amounts to 142,564,409 RSD - it is stated in the announcement.

It is added that the account of "Ikarbusa" has been constantly blocked since July 15, 2009, due to the debt of 765,782,168 RSD.

The employees of "Ikarbus" went on strike on July 1st demanding the payment of four salaries and continuation of production in the bus factory, which was discontinued due to lack of order, and the Director General of "Ikarbus", Srećko Nijemčević, submitted resignation at the end of July because "Avtodetal" failed to provide orders for that Belgrade-based bus factory.

The striking board of "Ikarbus" submitted the request for cancelation of privatization to the Privatization Agency of Serbia in mid-August 2009.