"Industricum" to take over “Matroz” – construction of aluminum recycling factory announced

The Minister of Economy, Mlađan Dinkić, and the President of company "Industricom", Jan Drisens, will sign the Agreement in Sremska Mitrovica on takeover of public company “Matroz” in bankruptcy and construction of a new aluminum recycling factory.

The Agreement will be signed between the Government of Serbia and that company in the presence of Oliver Dulić, the Minister of Environment Protection and Spatial Planning, and Bojan Pajtić, the President of the Executive Council of Vojvodina.

Mitrovica-based "Matroz" was unsuccessfully offered for sale seven times (three tenders and four attempts of sale in bankruptcy). The Privatization Agency also started the initiative for division of the whole production complex of “Matroz”, which occupies the surface of 45 ha, into technological units, which would be then offered for sale separately. The factory complex comprises units for production of cellulose, paper and korohumus, printing firm, and administrative building, while some office and retail space in the city were sold during the bankruptcy proceedings, as well as some building machines and vehicles in the factory.

When the first three tenders were announced, all of which were unsuccessful, "Matroz" was freed from all the debts of over 100m USD in the restructuring process. That was followed by bankruptcy and the factory’s dismissal of about 1,000 workers out of total of 3,500. However, that was not enough for "Matroz" to find the new owner, and total of four attempts of sale of that company in bankruptcy failed.