Paper factory "Matroz" sold to Austrians for 100,000 EUR

Once the largest in the Balkans, the factory for production and processing of cellulose and production of newspaper paper "Matroz" from Sremska Mitrovica, which used to employ nearly 4,000 workers, has been sold in the third attempt for symbolic 100,000 EUR.

The Privatization Agency of Serbia has accepted the only bid on the tender, the one sent by consortium "Pulp Mill Holding GMBH", in amount of 100,000 EUR, with the obligation of the buyer to invest additional 30m EUR in the startup of production of cellulose within next two years. The buyer is also obliged not to dismiss any of the remaining 1,100 workers in the following year.