The agreement on sale of Mitrovica-based valve industry MIV to the world largest car company General Motors will be inked this week, Tanjug learned from Sremska Mitrovica Mayor Branislav Nedimovic.
General Motors will produce car parts and employ 300 workers in the MIV plants, which used to be the leading producer of valves in the region and a large exporter, Nedimovic said.
MIV is the first company in Srem, northwest Serbia, which has been sold via tender to Belgrade-based JUCIT. However, instead of continuation and modernization of production and export, the company faced downfall.
The sales agreement was suspended, bankruptcy was declared, and 380 workers were left jobless. MIV was in bankruptcy when it was sold for RSD 100 million.
Source Emg
