Izvor: N1 televizija, 16.Jul.2018, 22:24 (ažurirano 02.Apr.2020.)
Serbia’s Azotara fertilizer plant goes bankrupt
Some 500 striking workers have been told that their fertilizer plant in the Serbian town of Pancevo will declare bankruptcy, leaving them out of work.
Bankruptcy proceedings will be launched, the strikers at the Azotara plant were told by the Dusan Bajatovic, CEO of its biggest creditor the Srbijagas company.
Bajatovic met with Azotara managers and staff before telling them that the plant would go into receivership. Energy Minister Aleksandar Antic said last week that >> Pročitaj celu vest na sajtu N1 televizija << the Azotara would be put into receivership because of its debts. The minister said the plant would be put up for sale once the bankruptcy proceedings were completed.
The Azotara plant’s current debts stand at around 200 million Euros which is twice the estimated value of its assets. Srbijagas holds 90 percent of the total debt. Bajatovic said that a social program would be implemented to secure severance pay for employees, adding that the plant’s debts are too high to start talks with possible strategic partners. “The government is under pressure from the IMF not to pay the debts,” he said.
Bajatovic told the strikers that if the plant does re-start production only some of its employees will be called back to work.
Some of the strikers told N1 that they were surprised by the announced closure of the plant. One of them said it’s strange that the majority shareholder Srbijagas is pushing the plant into bankruptcy, adding that Azotara’s biggest debt is for the gas that Srbijagas supplies.
