Austrian JDS Gives up on Serbian Fertiliser Factory Azotara

7. Juli 2006, 00:00

Austrian company JDS from Linz has demanded termination of the purchase contract for the biggest and most modern...

Austrian company JDS from Linz has demanded termination of the purchase contract for the biggest and most modern chemical factory in the former Yugoslavia, fertiliser producer Azotara from Subotica in Vojvodina.

According to the Belgrade daily Blic, JDS offered EUR 7.6 million for Azotara in January last year. The Austrian firm was the third potential buyer of Azotara.

Representative of JDS for Serbia, Slobodan Todorovic, explained that there are no conditions for launching production in Azotara, while the biggest problem is the lack of ammonia.

“This raw material is produced in Pancevo, but having in mind all the unresolved issues, weve come to a conclusion that we are late for launching production this season,” Todorovic added. “Since we didnt manage to implement our plans, we decided to leave.”

JDS paid a deposit of EUR 3.6 million and will be able to regain EUR 2.6 million.

The previous two buyers of Azotara, Swiss company BC Invest and All Imo Holding, gave up on this company very quickly.

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