SeeNews reported that Montenegrin’s state-owned power utility company EPCG will acquire steel mill Zeljezara Niksic from Turkey's Toscelik in a deal worth EUR 20 million. The agreed deal includes an initial payment of EUR 15 million in January and a second of EUR 5 million euro to be made by 15 February 15 after which EPCG will take over full ownership of the steel mill Montenegro's government gave approval for takeover talks to start in August. Željezara Nikšić is a Montenegrin factory for the production of iron and steel. Production at the Ironworks began in 1956with the commissioning of the first built plant of the Cold Rolling Mill. Until 1992, Željezara was named after the famous revolutionary and statesman Boris Kidrić .Cold Rolling Mill (1956)Steel Mill (1957)Roller Lathe (1957)Heavy Rolling Mill (1957)Sheet metal rolling mill (1957)Small Rolling Mill (1959)The Foundry (1960)Middle Rolling Mill (1960)Steel Mill (1961)Blooming Rolling Mill (1978)Combined rolling mill (1982)The Forge (1992) In the 1990s, with the collapse of the former Yugoslavia and the introduction of sanctions, Željezara lost a significant part of the market, which began a difficult period for its operations. From March 2002 to December 2002, the Ironworks was managed by the company " Rusmont Steel " under a lease agreement. From October 2003 to July 2004, the Ironworks was managed by the company " Nexan " under a business cooperation agreement. In July 2004, the company "Midland Resources Holding” carried out the privatization of Željezara and was its owner until November 2005. The new privatization was carried out in November 2006 by the company "MN Specialty Steels ", which lasted until 2011. In 2012, the last privatization of Željezara took place, which continues to this day. The factory was bought by the Turkish company "Toscelik Special Steel ". Toscelik acquired Zeljezara Niksic in 2012 for EUR 15.1 million after placing the best bid in an auction launched by the government. Toscelik suspended production activities at Zeljezara Niksic in March 2021, due to a drop in orders caused by the coronavirus pandemic. Last year, the Turkish company said it is in talks for the sale of the steel mill.
SeeNews reported that Montenegrin’s state-owned power utility company EPCG will acquire steel mill Zeljezara Niksic from Turkey's Toscelik in a deal worth EUR 20 million. The agreed deal includes an initial payment of EUR 15 million in January and a second of EUR 5 million euro to be made by 15 February 15 after which EPCG will take over full ownership of the steel mill Montenegro's government gave approval for takeover talks to start in August. Željezara Nikšić is a Montenegrin factory for the production of iron and steel. Production at the Ironworks began in 1956with the commissioning of the first built plant of the Cold Rolling Mill. Until 1992, Željezara was named after the famous revolutionary and statesman Boris Kidrić .Cold Rolling Mill (1956)Steel Mill (1957)Roller Lathe (1957)Heavy Rolling Mill (1957)Sheet metal rolling mill (1957)Small Rolling Mill (1959)The Foundry (1960)Middle Rolling Mill (1960)Steel Mill (1961)Blooming Rolling Mill (1978)Combined rolling mill (1982)The Forge (1992) In the 1990s, with the collapse of the former Yugoslavia and the introduction of sanctions, Željezara lost a significant part of the market, which began a difficult period for its operations. From March 2002 to December 2002, the Ironworks was managed by the company " Rusmont Steel " under a lease agreement. From October 2003 to July 2004, the Ironworks was managed by the company " Nexan " under a business cooperation agreement. In July 2004, the company "Midland Resources Holding” carried out the privatization of Željezara and was its owner until November 2005. The new privatization was carried out in November 2006 by the company "MN Specialty Steels ", which lasted until 2011. In 2012, the last privatization of Željezara took place, which continues to this day. The factory was bought by the Turkish company "Toscelik Special Steel ". Toscelik acquired Zeljezara Niksic in 2012 for EUR 15.1 million after placing the best bid in an auction launched by the government. Toscelik suspended production activities at Zeljezara Niksic in March 2021, due to a drop in orders caused by the coronavirus pandemic. Last year, the Turkish company said it is in talks for the sale of the steel mill.
