Serbia said on 13 February 2009 it has extended for the third time the bidding deadline in the tender for its glass manufacturing company Industrija Stakla Pancevo (ISP).
The new deadline for the fil…
Serbia said on 13 February 2009 it has extended for the third time the bidding deadline in the tender for its glass manufacturing company Industrija Stakla Pancevo (ISP). The new deadline for the filing of binding bids for the sale of 100% of ISP is 1630 local time (1530 GMT) on 20 March 2009, Serbia“s Privatisation Agency said on its website. In January 2009, Serbia extended the bidding deadline to 20 February. Serbia opened the third tender for ISP in October 2008, without setting a minimum price. Eligible bidders in the tender are companies active in glass manufacturing or trade for the past three years with minimum revenue of EUR 4.0 million (USD 5.2 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 sole bidder for the Serbian glass maker. 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.