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April 22, 2003 - Tuesday |
Cement industry leader Novi Popovac one year after privatization
One year ago, Swiss firm Holtzim bought cement producer Novi Popovac located in Paracin. In it's first year of owning the company, Holtzim invested €8.2 million in the cement factory itself and in 2003, the Swiss company's investment will be €17 million.
Two thirds of workers have voluntarily left the cement factory. Holtzim spent $16.5 million on their compensation package. For this year's production 900,000 tons cement and
novimal have been projected.
Holtzim has also invested in local community projects.
This year €500,000 is intended for loans to factory workers who want build or buy their flats.
The average salary in Novi Popovac cement factory reaches almost €240.
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