Rade Pribićervić, "Danube fooods group": "Salford" is not going to sell its companies in Serbia in 2009
- Investment fund "Salford" is not going to sell
the factories of "Danube foods group" in Serbia in 2009 – said Rade
Pribićević, the Director of Corporate Affairs in that group.
- We have estimated that there are no conditions for successful sale of any of
our companies, including factory of mineral water and juices "Knjaz
Miloš", and that is why we have temporarily discontinued that process – he
told Beta agency.
Pribićević pointed out that "Danube foods group", the members of
which were dairies "Imlek" and “Subotička mlekara” and confectionery
company "Bambi-Banat", had given up the sale of those companies
because of the global economic crisis, although it was close to the end of the
investment cycle.
- The global economic crisis primarily hit large multinational systems, one of
which was supposed to become the future owner of our companies – said he.
Pribićević reminded that the intention of "Danube foods group" to
sell "Knjaz Miloš" had been announced in 2008, and he added that
there had been certain indications that the sale would be successful.
- The current status is such that it should not be expected from us to sell any
of our companies in 2009. That is how we behave, and that is how we make plans
and hope that the global economic situation will start stabilizing during the
next year and that we will then be able to sell our companies – said Pribićević.
According to his words, the operations of "Danube foods group" had
been very positive prior to the last quarter of year 2008, but then the
negative effects emerged as the consequence of the economic crisis.
He was unable to specify how "Danube foods group" had ended the
previous year because “the results have not been consolidated yet”, but he said
that they could probably be estimated as “positive”.
According to his words, the effects of the global economic crisis are not
reflected in the products sales at the moment, "although it can be said
that the growth is not the same as it should be in the normal circumstances".
As Pribićević explained, "Danube foods group" will invest significantly less money in 2009 than usual.
- Year 2009 is not going to be completely investment-free year because something like that is, simply, not possible at the level of one such system. The investments will be directed to technological processes that lead to significant savings in relatively short time – he specified.
Pribićević said that he can not say the amount of investments, but he reminded that "Danube foods group" had invested over 20m EUR in improvement of production in 2008.
- The anticipated and projected budgets will be the subjects of revision this year, more than once, all in accordance with the relevant trends – said he.
- There will also be less of what market got used to, that is, new products – said Pribićević and added that the focus would be on development of existing products.
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