A Turkish Company To Take Over KAP?

KAP (Kombinat aluminijuma Podgorica) is the biggest Montenegrin aluminum factory. After Montenegro shifted into capitalism, the company was offered to various foreign companies — including a Russian one, who bought a significant part of the shares. However, they haven’t fulfilled their promises and the company went into a decline. The Montenegrin government which still holds the majority of the shares now wants to find another company who will invest capital into the company and get it back on its feet. A company from Turkey called HGL is very interested. They are interested in buying all the shares — both from the Russians and from the government.

“The workers of the company won’t accept another failure. They want a serious company to come and take over. KAP can’t handle another failure. Therefore, we won’t allow anyone to come into the company without our permission and written promises that they really want to help the company get back up,” said the representative of the workers.

The Turkish company is in the process of performing due diligence, and they expect it to be done in a week. After that, they will come to Montenegro and try to make a deal with the involved parties.

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