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New investment cycle in Impol Seval in Sevojno Serbia

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Deputy Prime Minister and Minister of Economy and Regional Development Mladjan Dinkic announced yesterday that the Ministry will financially support the restructuring process of Budimka from Pozega, whose privatisation agreement was recently made void. 

Dinkic  visited Impol Seval and the aluminium rolling mill in Sevojno, where he said that this mill is one of the first companies in Serbia which actually managed to emerge from recession.

He stressed that Impol Seval achieved a record high production and its employees earn approximately 50% more than the national average.

Over the past seven years, since the mill went into the hands of Slovenian Impol from Slovenska Bistrica, €37 million has been invested in the production facilities of Impol Seval.

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Dinkic explained that this has resulted in a multiple increase in production, higher productivity and exports, noting that a new investment cycle will begin this year, for which €13 million has been envisaged.

Impol Seval General Director Ninko Tesic stressed that in the first quarter of 2010, the company increased its production by 52.3% against the same period last year, while €20.5 million worth of products was exported.

Tesic said that apart from record production, the company expects record export figures this year, exceeding €100 million, explaining that this optimism is based on the fact that the total production capacity by the end of July has been sold and 90% of products are intended for foreign buyers.

Dinkic also visited the Sevojno copper mill, stressing that his Ministry decided to transfer the headquarters of the Export Credit and Insurance Agency from Belgrade to Uzice.

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The Deputy Prime Minister explained that Uzice was selected as the new headquarters because 13% of the Agency’s work is linked with the Zlatibor District, whose economy is export-oriented.

(Government of Serbia)

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