PRODUCTION AT “SIMPO” LAUNCHED

14. January 2015.

Vranje - After a six-month break due to the blocked account and business losses, production at most “Simpo” factories restarted. The production has been restored in the factories of furniture, upholstery and decor in Vranje, mattresses in Bujanovac and children's beds in Radovnica near Trgoviste.

At the news of the beginning of the consolidation of the troubled state giant, the first customers interested in purchasing "Simpo’s" products emerged on January 12 and 13.

Sladjan Disic, the Director-General of the factory said that due to the blocked 1.5 billion dinars in “Simpo’s” account, "Simpo" hadn’t worked as many as 186 days in the year before. Workers are once again operating the machines thanks to a loan from the Development Fund of over 600 million dinars for the start of production, the maintenance of liquidity and the payment of salaries to the employees.

1, 384 workers registered for leaving the company on a voluntary basis and for receiving severance pay. By converting “Simpo’s” debts, the state became the majority owner of the company’s capital.

"Simpo’s" management plans to end this business year with the profit of over 50.4 million euros.

Source: Alo and Coordination Body