Montenegro calls bids for Technosteel's assets, lowers price to EUR 1.57mn.

By bne IntelliNews November 5, 2012
Assets of Niksic-based cold rolling mill Technosteel have been offered for sale again after the previous eight attempts failed, news agency MINA-Business informed. The price has been lowered to EUR 1.57mn, down by 10% as compared to the previous ask price. The deadline for submission of bids is December 2. The property, which is offered for sale, includes equipment, consumables, land and mortgaged facilities. Technosteel was declared bankrupt by the commercial court in Podgorica in June 2011. The bankruptcy proceedings were initiated by the plant's employees over unpaid claims. The company is owned by Russian-Swiss company Technosteel Trading.

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