Thursday, May 12, 2005

Kosovo: US-Albanian firm buys Feronikel factory

Prishtina [Pristina], 11 May: The American-Albanian company, Adi-Nikel, has won the tender for buying the Glogovc [Glogovac]-based factory, Feronikel.

There were only two bidders for buying this socially owned enterprise [SOE], which was privatized through spin-off method.

Adi-Nikel company offered 27m euros in the first phase and 49m euros in the second.

This company also promised to invest 20m euros and to hire 1,000 employees.

The second bidder was the British enterprise Alferon. In the first phase, Alferon offered 22m euros, whereas 33m euros in the second. It also promised to hire 1,000 employers.

Joachim Ruecker, the chief of pillar IV of UNMIK [UN Interim Administration Mission in Kosovo], who was present in the bid-opening ceremony, said that anyone who wants to participate in the economic future of Kosova [Kosovo] should come and invest now, adding that now is the right moment.

Bahri Shabani, the head of the Kosova Trade Union [BSPK], said that Feronikel is worth much more. "But if this is acceptable for the workers, the BSPK will also accept it."

KTA [Kosovo Trust Agency] deputy director Ahmet Shala said that the price is an issue of market. "But we are content that international investors decided to invest in Kosova."

Source: KosovaLive web site, Pristina, in English 11 May 05

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