Slovenia's Cinkarna Celje sees net profit falling 31% in 2015

Cinkarna Celje said in a statement it expects sales revenues to rise 14% to 177 million euro in 2015 with exports projected to increase 15% to 153.5 million euro.

The company posted a net profit of 7.2 million euro in 2013 on sales of 166 million euro.

Last week, state holding company SDH, in charge of the sale of a 70.8% stake in Cinkarna Celje, said that following the submission of non-binding bids, some investors have been invited to the second stage of the process.

The deadline for the filing of non-binding offers expired on November 14. The sale process formally got underway the previous month.

The consortium selling the Cinkarna Celje stake consists of Modra Zavarovalnica, SDH, KD Skladi, Druzba za Upravljanje Terjatev Bank, NKBM, Alpen Invest and Banka Celje.

Established in 1873, Cinkarna Celje’s core business is the production and marketing of titanium dioxide pigment.

The company, one of 15 enterprises slated for privatisation by the Slovenian government, employs over 1,000.

($=0.8046 euro)