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02. October 2002 |
Majority stake in chemicals firm goes to Henkel
BELGRADE – German household chemicals manufacturer Henkel yesterday signed a contract to buy seventy per cent of Serbia’s Merima Chemicals for 14.4 million euro.
Henkel’s bid, the only one submitted in a Serbian Government tender two months ago, includes investing 100 million euros over the next ten years.
The German investor has also agreed to keep Merima’s present workforce level of 1,200 for at least five years.
The company will earmark 12.1 million euro for training of Merima employees and a housing program.
The book value of Merima is estimated at 20.6 million euro.
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