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Sisak Ironworks will continue operations says Maric

The Sisak ironworks will continue operations, either under the current Austro-Russian owner Trubo Impex, with some other partner or as a state-owned company, the company's bankruptcy administrator Ilija Maric told a meeting of the town council on Thursday.

Deputy Prime Minister Slavko Linic has given guarantees that as long as the owner pays wages owed for August and September, the government will assist the owner in talks with the power and oil industries and banks, Maric told the meeting.

Maric explained that a deadline he had given to the owners over the wages had expired and that he would travel to Moscow on November 4, to meet with Vladimir Malinin, the chairman of the company's supervisory committee and owner's representative.

Failure to pay the wages at that time will lead to the termination of the contract with Trubo Impex to purchase the company. In that event, a new partner would be sought, said Maric.

(NewsBase 01.xi.02)

 
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