Metalac takes over FAD?

Metalac from Gornji Milanovac has paid a deposit of RSD 150 million and is going to partake in the bidding for the takeover of Fabrika automobilskih delova (Car Parts Plant) - FAD in bankruptcy in that town, Dragoljub Vukadinovic, the chairman of the Supervisory Board and Metalac Group, told the regional television Telemark.

He noted that he was not going to give up this time and that they would even approach the Serbian prime minister in case of unfair competition in the FAD privatization process. Let us remind that the deadline to submit bids is 12 noon on August 21st, while the public opening of bids will take place at 12.15 PM on the same day on FAD's premises in Gornji Milanovac.

The bankruptcy manager of Fabrika automobilskih delova – FAD in bankruptcy in Gornji Milanovac put this company up for sale in late July at a starting price of RSD 750 million. One of the candidates for the new owner of this factory is Gornji Milanovac-based Metalac.

Vukadinovic confirmed that the deposit had been paid and that an envelope with Metalac's bid for FAD would be submitted Friday, August 21st.