Q:
A:
Benetton acquires Niteks from Nis
Belgrade,
13 May 2011
The Serbian Privatisation Agency stated that at today's public tender for the purchase of immovable property of company Niteks from Nis, the only bidder, the Italian company Benetton, accepted the starting price of €3,017,515.
In line with the previously signed Memorandum of understanding, Benetton will employ 2,700 workers and invest €43 million and the planned annual turnover is €72 million.
This investment was supported by the Serbian government, the Ministry of Economy and Regional Development and the city of Nis, which will enable unimpeded work to Benetton through incentives for employment, training of staff and administrative and infrastructure support.
Privatisation Agency Director Vladimir Cvetkovic said that the arrival of Benetton in Nis is continuation of the practice of making strategic partnerships with large international companies such as Fiat, Yura, Panasonic or Falke.
Cvetkovic said that there are less and less traditional privatisations through auctions and tenders, which is why the agency continuously seeks new ways of investing within the existing legal frameworks, where the sale of assets from the restructuring or bankruptcy proved to be a very effective model.
According to him, the agency’s priority is no longer to fill the budget, but to employ production facilities in Serbia and hire workers to the greatest degree possible.
This requires secure investments and respectable partners interested in long-term production development.
I can say with certainty that more similar successes are ahead of us, bearing in mind that negotiations with several large international companies are underway, Cvetkovic said.
This investment was supported by the Serbian government, the Ministry of Economy and Regional Development and the city of Nis, which will enable unimpeded work to Benetton through incentives for employment, training of staff and administrative and infrastructure support.
Privatisation Agency Director Vladimir Cvetkovic said that the arrival of Benetton in Nis is continuation of the practice of making strategic partnerships with large international companies such as Fiat, Yura, Panasonic or Falke.
Cvetkovic said that there are less and less traditional privatisations through auctions and tenders, which is why the agency continuously seeks new ways of investing within the existing legal frameworks, where the sale of assets from the restructuring or bankruptcy proved to be a very effective model.
According to him, the agency’s priority is no longer to fill the budget, but to employ production facilities in Serbia and hire workers to the greatest degree possible.
This requires secure investments and respectable partners interested in long-term production development.
I can say with certainty that more similar successes are ahead of us, bearing in mind that negotiations with several large international companies are underway, Cvetkovic said.
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