Tire manufacturer Tigar Tyres declared top exporter in Serbia.

By bne IntelliNews December 8, 2010
Tire manufacturer Tigar Tyres, controlled by France's Michelin, received the Exporter of the Year award from the Serbian Investment and Export Promotion Agency (SIEPA), emg.rs reported. The Pirot-based company exported 92.6% of its output to foreign markets, increased production and boosted workforce this year. Tigar Tyres was established in 2003 under a JV deal that gave Tigar 65%, Michelin - 25%, and the International Finance Corporation (IFC) - 10% stakes. Michelin raised its stake in Tigar Tyres (former Tigar MH) to 100% in 2009. At the award ceremony, Serbian PM Mirko Cvetkovic said that the country's exports rose by 21% y/y or by EUR 1bn in January-October. Exports provide a 58% coverage of imports, which is the country's best result over the past ten years. On a related note, economy minister Mladjan Dinkic forecast that Serbia could cut trade deficit in four years and post surplus in the second part of the decade.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Serbia's external debt up 4.7% y/y to EUR 25.4bn at end-Feb 2013.

Serbia's foreign debt rose an annual 4.7% y/y to EUR 25.4bn at end-February after climbing 6.6% on the year in January, central bank data showed. In monthly terms, however, the external ... more

Vip Mobile Serbia signs five-year managed services deal with Ericsson.

Swedish company Ericsson said it has signed a five-year managed services contract with Vip Mobile - the Serbian arm of Telekom Austria Group. The agreement includes field maintenance services for ... more

Telenor and Societe General possible buyers of Serbia's KBC Banka - report.

Norwegian telecommunications firm Telenor and France's Societe General are seen as possible buyers of the Serbian unit of Belgium's KBC Group, which has been on sale for several years now, a ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    8 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Don't mention the "D" word - Ukraine
    5 days ago
  4. The 'wet-bulb' set to kill hundreds of thousands of people if temperatures and humidity levels continue to rise
    3 days ago
  5. Europe unlikely to tackle Russian LNG imports anytime soon
    3 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    26 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    30 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    28 days ago
  5. Saudi Arabia to scale back plans for Neom city
    15 days ago

Reports

Dismiss