Montenegro is Selling Zeljezara Niksic for the Fourth Time

Montenegro’s steel mill, Zeljezara (Iron and Steel Works) Niksic, is being offered for sale for the fourth time. The asking price is 30,000,000 Euros.

Zeljezara Niksic has been a great manufacturer of low-alloy and high-alloy steels and carbon for years. The steelworks went to bankruptcy in April 2011, when workers decided to demand payment of overdue wages.

The advertisement was published in “Pobjeda”, asking buyers to submit bids by the beginning of February, with a mandatory deposit of 10 % of the starting price.

Zeljezara Niksic is being offered for sale for the fourth time in twenty years. Main creditors of Zeljezara (including MNSS BV – Netherlands), secured a UK court assistance in recovering claims of 60,000,000 Euros.

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