BELGRADE (Serbia), August 1 (SeeNews) – Serbian lubricants producer FAM Krusevac has changed its name to Hemofluid, it said.
The change was approved by the shareholders' meeting of FAM Krusevac held on July 30, the company said in a filing with the Belgrade Stock Exchange on Wednesday.
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U.S.-based lubricants and chemicals supplier Valvoline signed an agreement in February to acquire FAM Krusevac from the Serbian government for 9.5 million euro ($10.5 million). The U.S. company will maintain the FAM brand in Serbia and will keep at least 100 of the company's 218 employees, the director general of FAM Krusevac, Jelica Djurovic Petronijevic, said at the time.
In May, Serbia's competition watchdog said it approved the transaction, to be executed through Ellis Enterprises East, a wholly-owned subsidiary of Dutch-based Valvoline Holdings B.V.
($ = 0.905192 euro)