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Call for expression of interest in privatization of Black Metallurgy Institute Nikšić

Published date: 31.05.2019 09:00 | Author: PR Service

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By the decision on the Privatization plan for 2019, privatization of the company "Black Metallurgy Institute” JSC - Nikšić is foreseen, through the sale of shares by public tender and / or capital increase. The goal of privatization is to increase the competitiveness and efficiency of the Company, to provide new jobs and employment, positioning in the domestic and international market.

Subject of the Tender: The subject of the tender will be the sale of 51,1159 % of the capital of the joint-stock company ‘’Black Metallurgy Institute” JSC – Nikšić, i.e. 326.992 shares, consists of the following structure of capital and number of shares: 20,4270 % owned by the State (130.673 shares), 19,0368% owned by the Pension and Disability Insurance Fund (121.780 shares), 6.3456% owned by the Employment Agency of Montenegro (40.593 shares) and 5,3065% owned by the Compensation Fund (33.946 shares).

Basic information about the joint stock company: "Black Metallurgy Institute” AD Nikšić is a joint-stock company that was established and operates in accordance with the laws of Montenegro, registered in the Central Registry of Companies under registration number 40004230 with a total registered capital in the nominal amount of 5.220.145, 22 EUR. The nominal value of each share is EUR 8,1602. Company identification number 02040760. The code and the name of the company's core business is 7120, Technical testing and analysis. The Institute is a licensed scientific research institute engaged in research and development activities in the field of technical and technological sciences, laboratory-field testing and comprehensive characterization of metal and non-metallic materials as well as process equipment and the production of special steel and alloys in the form of castings and semi-finished products for further processing by forging and rolling. The Institute performs specialized examinations of physical and chemical status and characterization of materials and process equipment at the level of expertise, arbitration and expert findings. Annually more expertise is carried out for the needs of Montenegrin and regional companies in the field of steel, mining, energy, construction, chemical and aluminum industries.

Production program: Regarding the production, "Black Metallurgy Institute” AD Nikšić produces products of castings and processing of steel on the EPT plant. Castings are made for the aluminum industry, the steel industry, the mining and chemical industries as well as for construction. These are high quality steel castings - fireproof, stainless, for working at elevated temperatures, for hardening, etc.

On EPT plants, Company produces high quality steel ingots in three dimensions of the crystallizer, weighing 650-3200 kg / ingot. The capacity of the melting furnace (1000 kg) per year is 330 tons of liquid metal. Liquid metal is used for the needs of Steel and Foundry. The annual capacity of the Foundry is 120-150 tons, and the Steelworks can process 270 tons of steel on the EPT, also annually.

In the domain of services, "Black Metallurgy Institute” as a scientific research institution is involved in research and development activities in the field of technical and technological sciences, laboratory-field tests and the comprehensive characterization of metal and non-metallic materials and process equipment. Within the service sector, with two-thirds share in total revenue, the level of radioactivity testing is dominated, where "Black Metallurgy Institute” stands out as one of the leading companies in this market segment.

Hereby, the Privatization and Capital Projects Council (Tender Commission for Privatization) invites interested domestic and foreign investors to submit Expressions of Interest / letter of intent for the forthcoming tender.

The expression of interest / letter of intent should include a summary of relevant projects and experiences in this field as well as a general overview of the concept of the project.

The delivery of the Expression of Interest / Letter of Intent by potential investors does not oblige or limit the Privatization and Capital Projects Council (Tender Commission for Privatization) in the choice of investor. Also, the delivery of the Expression of Interest / Letter of Intent by potential investors does not limit the right of other interested parties to apply for the tender (when published).

The expression of interest / letter of intent should be delivered to the address given at the end of this invitation no later than June 28, 2019, at 12.00.

The Privatization and Capital Projects Council (Tender Commission for Privatization) will, following the expiration of the deadline for expressing interest, implement the procedure of privatization of the said share capital in accordance with the legal procedure.

All interested investors can contact to obtain further information on the following contacts:


Privatization and Capital Project Council 
Tender Commission for Privatization
Karađorđeva bb Podgorica
Tel: +382 020 482 213
Contact person; Tanja Markoč