Arabian company, “BMJ Industries” will take the majority ownership in the New Tobacco Combine by the end of this week. Assembly of shareholders will be held tomorrow and the decision on the recapitalization of the company will be rendered.
“BMJ Industries” will take over 70% of the shares of the New tobacco Combine whereas Montenegro will have the remaining 30%.
“The state will totally withdraw from the ownership after the next session of shareholders”, said Branko Vujović, member of the Council for privatization and capital projects.
Machines and equipment were the assets by means of which the country participated in the ownership. None of them was transferred to the new location.
Vujović said that he wasn’t satisfied with the work of investors since they have been prolonging the production for months.
The first production line in the New Tobacco Combine was commissioned a month ago around 175.000 of packs of cigarettes was produced.
“BMJ Industries” takes over the New Tobacco Combine
