Untitled Document

NEWS

A SUCCESSFUL DAY AT AUCTION SALE
THREE COMPANIES WITHIN MIN HOLDING SOLD

Nis, January 30, 2007. A great concern and confusion of workers of the Machine-building Industry Nis has been superseded by a successful auction sale of three companies within MIN HOLDING: AD ‘’Vagonka’’, AD ‘’Specijalna vozila’’ and AD ‘’Lokomotiva’’. The buyer of these companies is Mr. Alessandro Rustiano from Italy. Mr. Rustiano owns a company in Italy with a 30-year tradition in the production of railroad cars, locomotives and overhaul of the same.

‘’Putting the manufacturing plants in order, repairs on the heating and lighting installations, as well as product standardization, are the priorities and the reason of my arrival and purchase of these companies. The most important part of the production will be intended for export, with maintaining and expanding the production to Serbian market. There won’t be dismissals of workers by natural way in the next two years, as it is stipulated in the Purchase and Sales Contract and the Social Program. All 900 workers will be employed in the purchased companies which will continue to operate as until now, as special economic agents. I believe that employees will show optimum performance, so that we can achieve a much better business result together, than it is now’’, stated Mr. Alessandro Rustiano in his conversation with journalists and trade union representatives.

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