Sava has started sell-off of rubber activities

ERJ staff report (DS)

Kranj, Slovenia - Sava dd has begun the process of selling off its rubber activities - mainly rubber footwear such as boots - as part of a radical restructuring plan announced in September 2011, designed to rescue the company from the brink of financial collapse.

At the company's shareholder meeting held last week (24 May 2012), Matej Narat, MSc, President of the Management Board of Sava d.d., said, “Also the procedure for selling Rubber Manufacturing is in progress. The international bidders show great interest in this traditional Sava's business. Presently, the discussions are held with the selected partners able to assure necessary investments in further growth and development. A final decision about the implementation of this option will be made in the concluding phase of discussions, which is expected to happen before the end of this year. “

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Press release from Sava