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A LONG PROCESS OF ‘’ZELVOZ’’ SMEDEREVO PRIVATIZATION ENDED

‘’GRANPET’’ - NEW OWNER OF ‘’ZELVOZ’’




Smederevo, January 5 2008
The Tender Commission in charge of sale of 70% capital of D.O.O. ZELVOZ accepted the Report of the Government Commission responsible for negotiations with the buyer, as well as the Report of representative trade unions on the Social Program content, accepted and signed by ‘’Granpet’’, at the Third Ordinary Session held on December 10, 2007. The Commission approved the signing of the Purchase and Sales Contract by unanimous decision. Thereby, a long process of ‘’Zelvoz’’ privatization ended and a renowned and powerful company dealing with railway program arrives in Serbia and enters its market.

We wish to remind of the most important buyer’s obligations toward employees of ‘’Zelvoz’’:

-Investments have been increased to 7,5 million Euro,
-Securing jobs for 1700 employees and regular payment of earnings to employees,
-Payment of contributions for pension and disability insurance for 2005, 2006 and 2007 until the date of signing of the Purchase and Sales Contract,
-Observance of the present Collective Agreement and its bringing in line with the Labor Law of 2005, as well as abiding by the signed Social Program of three representative unions. The most important provision of the Social Program is that the buyer does not announce surplus manpower in the next 3 years,
-Settlement of debt to all creditors and ‘’Zelvoz’’ employees by the Factory,
-The buyer obliged himself to solve all problems within the Factory in cooperation with trade unions.

 
     
 
 
 
 
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