City of Pirot Becomes Majority Owner of Free Zone, State Waives Its Shares

The Government of Serbia has adopted the decision to transfer its ownership in Free Zone Pirot, which it had through the state company Tigar A. D., to the City of Pirot, so with the change of the ownership structure, the City of Pirot is now a co-owner of slightly over 87% shares.

The government’s decision has been confirmed at the Pirot city parliament, and the shares, almost 66% of them, have been transferred without a compensation.

Until that decision, the City of Pirot was a minority owner with slightly over 21%, and now the city is the majority owner of the Free Zone, as said by the mayor of Pirot, Vladan Vasic, at the City Assembly.

Free Zone Pirot started operating in April 1998, and in addition to Tigar A. D. and the City of Priot, shares are owned by Hevea Global from Belgrade and Unimetal from Pirot, companies which acquired shares by collecting the claims from the company Progres, which had gone into bankruptcy.

Around 70 trade companies and 19 production companies, including large, medium and small companies, which employ around 6,000 workers, operate within Free Zone Pirot.

Vlada Republike Srbije

Grad Pirot

Tigar a.d. Pirot

HEVEA GLOBAL DOO Beograd

UNIMETAL PIROT

Slobodna zona Pirot ad Pirot

Tigar Tyres doo Pirot

PROGRES PIROT

Government of Serbia

City of Pirot

Tigar

Hevea Global Belgrade

Unimetal Pirot

Progres

Michelin

Free Zone Pirot

Vladan Vasić

management of Free Zone Pirot