The government plans to solve the issue of RTB Bor, PKB and Petrohemija by the end of the year. Tenders are being prepared for the sale of these companies, while the public call for investors in the case of MSK from Kikinda, which currently has 535 employees, is open until 10th August.
This public cal, for the acquisition MSK (the methanol and acetic acid complex) is the second one that has been launched in the last six months. It will be known by mid-August whether there are potential purchasers. Only companies that operate in the chemical industry, with at least EUR 150 million in revenues, are eligible to submit their offers. As RTS learns, companies from Germany, Japan and Turkey have expressed interest.
MSK’s currently has good business results, but the high price of gas, which is the company’s main raw material, still causes a lot of problems.
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“The best partner for MSK would be a company that would continue the production, as there’s room for it in the global market. 95% of the methanol produced here is exported, as is 98% of the acetic acid, primarily to the European Union”, says Dragan Stevanovic, Secretary of the Association for Chemical, Rubber and Non-metal Industry at the Chamber of Commerce and Industry of Serbia.
Economist Vladimir Krulj believes that a partner will be able to get a lower price of gas and that hopefully, it has enough experience in not just in marketing the product, but in terms of technology as well. “This will ensure that the company has competitive position in the market”, Krulj said.
RTS reminds the government plans to solve the issue of RTB Bor, PKB and Petrohemija by the end of the year too. Tenders for the sale of these companies are being prepared, and the government is in talks with the Russian and Azeri companies about the privatization of Petrohemija from Pancevo.
Petrohemija is cleared of old debts and is operating positively for the fourth year running. It has 1,400 employees and needs a strategic partner that will invest in its plants and expand production.
“These capacities are definitely not small. The rules of the economy of scale should be applied here – the higher the capacity and the production, the company is more profitable. What is specific to Petrohemija is that this is a company export-oriented, which means that it does not depend on the local market”, Professor Aleksandar Orlovic, from the Faculty of Technology in Belgrade, explains.
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