Q:
A:
Dinkic visits workers at Zastava Elektro
Raca,
16 February 2010
Deputy Prime Minister and Minister of Economy and Regional Development Mladjan Dinkic visited the workers of Zastava Elektro in Raca announcing the arrival of the first South Korean company to Serbia, interested in acquiring this company and hiring 1,000 workers before the year’s end.
Author:
www.infobiro.rs
Dinkic recalled that in line with its promise to Zastava Elektro workers who were on strike because of the company’s poor management, the Ministry of Economy and Regional Development had been seeking solutions and strategic partners for this company for the past six months.
According to him, the most serious partner is Yura Corporation from South Korea, a producer of electric cables for automobiles and a supplier of large companies such as KIA, Hyundai and Daewoo.
Yura Corporation would like to start production in June and training for workers would begin in April. The entire process has to be completed in March, which means that in the upcoming period we must adopt the necessary laws to enable the sale of Zastava Elektro’s entire assets, the Minister explained.
The tender call must be published by March 1, Dinkic said adding that a restructuring programme must be drafted before that, contacts with banks established and commercial debts settled.
The company assets have been assessed and their value estimated at around €2.8 million, he added.
He said Yura Corporation representatives visited Serbia on several occasions and saw successful examples of businesses, such as Leoni in Prokuplje and Drexel Mayer from Germany. They found Raca a suitable location due to its vicinity to the motorway and satisfactory conditions in the Zastava Elektro factory.
Yura is interested in investing in car cable production for export purposes. The important thing is that Yura intends to take on 1,000 workers, Dinkic said.
Following the meeting in Zastava Elektro he said that agreement must be reached concerning further steps towards realising this project.
Dinkic toured the factory and talked with the employees, notifying them that those who wish to leave the factory will be offered a social welfare programme of €300 for every year of service.
According to him, the most serious partner is Yura Corporation from South Korea, a producer of electric cables for automobiles and a supplier of large companies such as KIA, Hyundai and Daewoo.
Yura Corporation would like to start production in June and training for workers would begin in April. The entire process has to be completed in March, which means that in the upcoming period we must adopt the necessary laws to enable the sale of Zastava Elektro’s entire assets, the Minister explained.
The tender call must be published by March 1, Dinkic said adding that a restructuring programme must be drafted before that, contacts with banks established and commercial debts settled.
The company assets have been assessed and their value estimated at around €2.8 million, he added.
He said Yura Corporation representatives visited Serbia on several occasions and saw successful examples of businesses, such as Leoni in Prokuplje and Drexel Mayer from Germany. They found Raca a suitable location due to its vicinity to the motorway and satisfactory conditions in the Zastava Elektro factory.
Yura is interested in investing in car cable production for export purposes. The important thing is that Yura intends to take on 1,000 workers, Dinkic said.
Following the meeting in Zastava Elektro he said that agreement must be reached concerning further steps towards realising this project.
Dinkic toured the factory and talked with the employees, notifying them that those who wish to leave the factory will be offered a social welfare programme of €300 for every year of service.
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