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The Government of the Republic of Serbia

In the service of citizens

Italian food maker Veronesi interested in acquiring Agroziv

Belgrade, 18 July 2013

Minister of Finance and Economy Mladjan Dinkic and Director of the Serbian public gas company Srbijagas Dusan Bajatovic signed today with Bruno Veronesi, the President of the Italian company Veronesi, the Memorandum of understanding between that company and company Agroziv from Zitiste.

Dusan Bajatovic, Bruno Veronesi and Mladjan Dinkic

After signing the memorandum, Dinkic underlined that Veronesi is one of the largest food producers in Italy and Europe, and that it is interested in taking over the Serbian meat producer Agroziv, which is owned by Srbijagas.

The Minister stated that this Italian company, which last year recorded a turnover of €2.7 billion, has not had production outside Italy so far.

In the upcoming months, Veronesi will conduct a detailed analysis of the technical economic justifiability of investing in Agroziv, and if all goes well, the first important investment should be expected early next year.

Dinkic said that Agroziv currently makes 13 million chickens per year and that if the agreement is reached, the production will be increased to 100.

Veronesi said that representatives of his company came to Serbia to assess the possibilities for investment in meat production and development of cooperation.

He explained that the feasibility study will show the way of investing in Agroziv, and added that Veronesi intends to export all its output made in Serbia to the EU.

Bajatovic explained that Srbijagas will withdraw from ownership of Agroziv because the strategy of the Serbian government is that this company should go back to its primary activity and that is production and distribution of gas.

He underlined that there are all reasons for the Serbian government to meet the demand of Veronesi to clear the accounts of Agroziv, make jointly a concrete social welfare programme and direct the entire potential of this Serbian company towards modern production.