SeeNews has reported that Montenegro's steel mill Zeljezara Niksic has resumed operations on 23 February, following its takeover by state-owned power utility company Elektroprivreda Crne Gore. Media outlet RTNK quoted Zeljezara Niksic Executive Director Mr Djordjije Manojlovic as saying on 22 February “Tomorrow we are opening the gates of the new factory. The steel mill has retained 197 of its former employees.” EPCG has bought Zeljezara Niksic from Turkey's Toscelik for EUR 20 million euro under a deal signed in December 2022. EPCG had said in January that it would transfer the property acquired to Zeljezara Niksic in order to provide additional support for the development of solar and other types of renewable energy solutions. The new company, EPCG-Zelezara Niksic, will consist of several production units and employ a total of 304 workers who will be hired in phases.Founded in 1950 by government, Niksic Montenegro based Željezara Nikšić produces specialty steel for application in construction and industrial use. Toscelik acquired Zeljezara Niksic in 2012 for EUR 15.1 million after placing the best bid in a tender launched by the Montenegrin government. Toscelik suspended production at Zeljezara Niksic in March 2021, due to a drop in orders caused by the coronavirus pandemic. In September 2022, Toscelik dismissed all 229 workers from the steel mill.
SeeNews has reported that Montenegro's steel mill Zeljezara Niksic has resumed operations on 23 February, following its takeover by state-owned power utility company Elektroprivreda Crne Gore. Media outlet RTNK quoted Zeljezara Niksic Executive Director Mr Djordjije Manojlovic as saying on 22 February “Tomorrow we are opening the gates of the new factory. The steel mill has retained 197 of its former employees.” EPCG has bought Zeljezara Niksic from Turkey's Toscelik for EUR 20 million euro under a deal signed in December 2022. EPCG had said in January that it would transfer the property acquired to Zeljezara Niksic in order to provide additional support for the development of solar and other types of renewable energy solutions. The new company, EPCG-Zelezara Niksic, will consist of several production units and employ a total of 304 workers who will be hired in phases.Founded in 1950 by government, Niksic Montenegro based Željezara Nikšić produces specialty steel for application in construction and industrial use. Toscelik acquired Zeljezara Niksic in 2012 for EUR 15.1 million after placing the best bid in a tender launched by the Montenegrin government. Toscelik suspended production at Zeljezara Niksic in March 2021, due to a drop in orders caused by the coronavirus pandemic. In September 2022, Toscelik dismissed all 229 workers from the steel mill.
