Železara Smederevo

Privatization Agency refutes Esmark owner's statement

BELGRADE -- The Privatization Agency has refuted a statement made on Wednesday by Chairman and Chief Executive Officer of Esmark Europe BV James Bouchard.

BELGRADE - The Privatisation Agency refuted the allegations voiced on Wednesday by Chairman and Chief Executive Officer of Esmark Europe BV James Bouchard who said that the negotiations on the takeover of Zelezara Smederevo steel mill failed because the Serbian side in the talks changed the previously agreed financial provisions.

EU: Serbian steel mill "must not receive govt. assistance"

BRUSSELS -- The EU is ready to talk with the Serbian government concerning the restructuring of Zelezara Smederevo steel mill, Tanjug said it learned from a spokesperson.

"Good management will keep Zelezara running"

BELGRADE -- With good will and good management, we will keep Zelezara Smederevo running for years, Serbian Economy Minister Zeljko Sertic said.

The negotiations on the sale of Zelezara were led by state interests and the concern for people's jobs, Sertic said for Radio and Television of Serbia late on Tuesday.

PITTSBURGH - Chairman and Chief Executive Officer of Esmark Europe BV James Bouchard expressed disappointment on Wednesday over the failure of the negotiations on takeover of Zelezara Smederevo Steel Works and attributed it to a change in previously agreed conditions.

BELGRADE - The Serbian government decided not to sign a contract with the US steel producer and distributor Esmark, after being advised to do so by the privatization advisor (KPMG) and the commission for the implementation of a strategic partnership model for the privatization of Zelezara Smederevo, Serbian Prime Minister Aleksandar Vucic said Tuesday.

Government rejects U.S. company's offer for steel mill

BELGRADE -- The Serbian government on Tuesday decided against selling an 80-percent stake in the Smederevo-based Zelezara steel mill to the U.S. company Esmark.

This was announced by Prime Minister Aleksanadar Vucic during a news conference.

Decision on Smederevo steel plant to be made on Tuesday

BELGRADE -- The Serbian government will on Tuesday make its final decision on whether to allow the U.S. company Esmark to become majority owner of the Zelezara steel plant.

The decision will be made "after difficult negotiations," Tanjug is reporting.

BELGRADE - Serbian Prime Minister Aleksandar Vucic said Monday that the Serbian government had received a counteroffer from US steel firm Esmark late on Sunday and the revised offer would be discussed today.

VIENNA - Serbia may achieve greater growth than the International Monetary Fund's (IMF) program projects, but it depends on the outcome of the privatization of Zelezara Smederevo and other companies, including those on the Privatization Agency's list, Serbia's Finance Minister Dusan Vujovic said Tuesday.