Serbian authorities said on 13 January 2009 that they had extended the bidding deadline in the tender for glass manufacturing company Industrija Stakla Pancevo (ISP).
The new deadline for the filing …
Serbian authorities said on 13 January 2009 that they had extended the bidding deadline in the tender for glass manufacturing company Industrija Stakla Pancevo (ISP). The new deadline for the filing of binding bids for the sale of 100% of ISP is extended to 1630 local time (1530 GMT) on 20 February 2009, the Privatisation Agency said on its website. In November 2008, Serbia extended the initial 19 December deadline to 19 January 2009. Serbia opened the third tender for ISP in October 2008, without setting a minimum price. Eligible bidders are companies active in glass manufacturing or trade for the past three years with minimum revenue of EUR 4.0 million (USD 5.4 million) in 2007. Investors with minimum active capital of EUR 20 million or EUR 8.0 million revenue in 2007 can also apply. The two previous attempts to sell ISP were unsuccessful. On both occasions, Greece“s Yioula Glassworks was the only bidder. ISP, one of the oldest glass makers in southeast Europe and located in Serbia“s northern town of Pancevo, cut its net loss to EUR 2.0 million in 2007, from EUR 3.3 million the previous year. ISP, set up in 1930, has two subsidiaries: Trispan, which sells glass, and Specijalna Stakla, which produces glass.