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Export growth, recovery of Krusevac lubricants factory FAM
Krusevac,
12 September 2011
Minister of Economy and Regional Development Nebojsa Ciric said today that following the annulation of the privatisation contract, the factory of lubricants FAM from Krusevac recorded an export growth of 2.5% in June.
After meeting with representatives of local authorities and managements of several companies in Krusevac and the unions, he said the total production volume of the company will exceed RSD 2 billion till the end of the year, of which 45% will be exported.
He stated that FAM is among the leaders in the region and announced that the Ministry in cooperation with the Serbian government will try to help its recovery after the failed privatisation by Niebens Group.
FAM should soon build a warehouse for storage of hazardous substances and the Ministry of Economy will help its building with RSD 20 to RSD 25 million in the next few months, Ciric said.
He also said that the Ministry will continue to seek an appropriate strategic partner for FAM, but it will not go into privatisation at any cost, as FAM is one of the best state-owned companies in Serbia.
He stated that FAM is among the leaders in the region and announced that the Ministry in cooperation with the Serbian government will try to help its recovery after the failed privatisation by Niebens Group.
FAM should soon build a warehouse for storage of hazardous substances and the Ministry of Economy will help its building with RSD 20 to RSD 25 million in the next few months, Ciric said.
He also said that the Ministry will continue to seek an appropriate strategic partner for FAM, but it will not go into privatisation at any cost, as FAM is one of the best state-owned companies in Serbia.
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