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Kombinat Aluminijuma Podgorica A.D. - in bankruptcy proceedings

Summary

Company ID (NIN)

02014459

Company owner / manager

  • Minerals Euro-Asia Limited
  • Individuals
  • CEAC Holdings Ltd
  • State
  • Other

Country

Montenegro

Capital

53,625,988

Total assets

199,926,836

Net loss for the period

53,898,746

Report year

2012

Currency

EUR

Industry

Aluminium Production

Southeastern Europe Company Index (SEECI)

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General information

About Kombinat Aluminijuma Podgorica A.D. - in bankruptcy proceedings

Kombinat Aluminijuma Podgorica A.D. is Montenegro's sole aluminum smelter.

 

Last updated on July 3, 2019.

Meta info
Status
Bankruptcy Proceedings
Legal form
Joint Stock Company
Incorporation date
Jan. 1, 1969
NIN
02014459
Tickers
KAPG
Stock Exchange
Montenegro Stock Exchange
ISIN
MEKAPGRA1PG3
Profile last updated
July 3, 2019, 11:36 a.m.
Alternative names

    Kombinat Aluminijuma Podgorica JSC;
    Aluminium Plant Podgorica JSC;
    KAP AD

History

    1969 - Kombinat Aluminijuma Podgorica (KAP) is established as a socially-owned company, specialising in the production of all types of alumina, lime, anode, aluminum and aluminum alloys as well as products from aluminum and its alloys.

    Nov 15, 1995 - KAP transforms into a joint-stock company.

    Dec 30, 1998 - KAP A.D. establishes its Montenegrin subsidiaries - aluminium processing company Prerada D.O.O., based in Podgorica, aluminium minting company Kovacnica D.O.O., based in Podgorica and aluminum-steel ropes producer FAK D.O.O., based in Kolasin.

    Mar 1, 2002 - The company lists on the Montenegro Stock Exchange.

    July 27, 2005 - Montenegro's privatisation agency sells 65.43% in KAP A.D. to Cyprus-based holding company Central European Aluminium Company (CEAC) Holdings Ltd., part of Russian diversified holding company Basic Element, for EUR 145.5 mln in cash and investments.

    March 2009 - Montenegro's Commercial Court in Podgorica imposes an injunction against KAP A.D. over a EUR 12.5 mln debt to the state-owned power utility Elektroprivreda Crne Gore A.D. The injunction forbids the sale of 6,000 tonnes of the company's aluminum products valued at EUR 8.0 mln. In May 2009 KAP A.D. signs an agreement with Elektroprivreda Crne Gore A.D. to sell part of its blocked production in order to repay EUR 3.0 mln of the debt.

    October 2010 - The Montenegrin government takes over half of CEAC’s 59% stake in KAP after issuing sovereign guarantees for the plant’s debt restructuring.

    March 2012 - The Mauritius-based company Minerals Euro-Asia Ltd acquires a 15.01% stake in the company from Adcapital Montenegro for EUR 3.98 mln.

    July 8, 2013 - The Commercial Court in Montenegro launches bankruptcy proceedings of Kombinat Aluminijuma Podgorica A.D.

    December 2013 - Montenegro's government puts up for sale Kombinat Aluminijuma Podgorica A.D.'s assets at an initial price of EUR 52.47 mln.

    Jan 18, 2014 - Montenegrin company Uniprom D.O.O. places the sole bid in the second tender for the sale of the company's assets. Uniprom also pledges to invest EUR 76 mln in KAP by 2018, to increase the plant’s output to 120,000 tonnes per year and  to employ 300 workers.

     

    Last updated on July 3, 2019.

Management

Executive Board
Dragan Mijovic
CEO
Veselin Perisic
Receiver
Board of Directors
Alexey Arnautov
Chairman of the Board
Elena Filatova
Member of the Board
Nebojsa Dozic
Member of the Board
Aleksey Kuznetsov
Member of the Board
Bojana Saranovic
Member of the Board

Contacts

Address
BB Dajbabe Str.
81000
Podgorica, Montenegro
Telephones

+382 20 644 234

Fax

+382 81 620 955

Emails

goran.skataric@kap.me
dragan.mijovic@kap.me

Websites
N/A

Ownership

Name Direct holding Indirect holding Owner type Country
Minerals Euro-Asia Limited 15.01 Company Mauritius
Individuals 1.62 Individual
CEAC Holdings Ltd 29.36 Company Cyprus
State 29.36 State Montenegro
Other 25.65 Other

Subsidiaries and affiliates

Name Direct holding Indirect holding Country
Prerada D.O.O. 100.0 Montenegro
Kovacnica D.O.O. 100.0 Montenegro
FAK D.O.O. 100.0 Montenegro

Products and services

Kombinat Aluminijuma Podgorica A.D. produces floury alumina, molten aluminum, standard ingots and T-ingots.

 

Last updated on July 3, 2019.

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