Turkey's Tosyali Holding Buys Montenegrin Steel Mill in Niksic
- Written by Admin TOA
- Published in Associations
Toscelik Profil Ve Sac Endustrisi AS won an auction to buy Zeljezara AD Niksic (ZEHK), paying 15.1 million euros ($20 million) for the unprofitable Montenegrin steel plant.
Toscelik, part of Tosyali Holding, bought the Niksic-based mill after four previous auctions failed, Montenegro’s Economy Minister Vladimir Kavaric said in a statement on the government’s website today. Zeljezara’s court-appointed receivership administration set the asking price at 15 million euros in the latest auction, half of what it asked in January.
The steelworks was put into bankruptcy a year ago when a workers union demanded overdue wages.(Bloomberg)
Last modified onSaturday, 06 May 2017 10:07
Latest from Admin TOA
- The Young Star of the Gastronomy World Is The New Owner of Samdan
- From Dream to Reality, from Muş to Illinois: Zellano Home, the Largest Furniture Store Under One Roof in the USA!
- 300 migrants to be housed at shuttered Catholic church on Northwest Side in Chicago
- Turkish Philanthropy Funds Hosts 2024 Innovation and Social Impact Summit
- Turkish Stand-Up Sensation Hasan Can Kaya Embarks on U.S. Tour with Art Evi Production, in212 Production, and TAAS New York