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Serbia's Metalac acquires assets of insolvent textile firm Rudnik

Author Radomir Ralev
Serbia's Metalac acquires assets of insolvent textile firm Rudnik Author: ZK-Termochem. License: All rights reserved.

BELGRADE (Serbia), December 18 (SeeNews) - Serbian blue-chip cookware manufacturer Metalac [BEL:MTLC] has acquired the office building, production plant and storage facilities of bankrupt textile company Rudnik for 1.3 million euro ($1.4 million), Metalac said.

The offer of Metalac for the purchase of the assets was deemed most favourable at an auction for the sale of the assets on December 13, the cookware producer said in a statement on Monday.

The assets include a total of 18,000 square metres of storage and production facilities, a restaurant and two power transformer stations.

Metalac will invest 500,000 euro next year to establish a storage complex of 6,000 square metres in the area, while the headquarters of its subsidiaries Metalac Market and Metalac Trade will be moved to the office building, the company noted.

Rudnik was privatised in 2006 and was declared insolvent in 2010.

($ = 0.878281 euro)

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