Goša FOM Monograph 2001–2009
2001–2009. Privatization, new coke machines
Mining equipment and grab reloader cranese...
A new privatization law was passed in 2001. The Privatization Agency of the Government of the Republic of Serbia made a decision to privatize GOŠA FOM through a public tender. This was a great recognition for GOŠA FOM as only a handful companies in the metals and electrical industries in Serbia have been privatized through a public tender.
The method of privatization of GOŠA FOM was determined on the basis of its size, business results, human resources, and production potentials. Tendering for the privatization of GOŠA FOM was launched in March 2005, with 71,02% of the capital up for sale.
Among the bidders was the Consortium of 363 individuals together with Russian company OAO Koks - Kemerovo. The 363 idividuals were employed at GOŠA FOM, and OAO Koks - Kemerovo was a long-time buyer of equipment and machines produced by GOŠA FOM. The indivuduals held a majority in the Consortium. The Privatization Agency decided to sell GOŠA FOM to the Consortium of indivuduals and Koks - Kemerovo. The sale contract was signed on September 9, 2005. In addition to paying the agreed price, the Consortium had very considerable obligations: to make investments in the following five years, to maintain the structure and scope of production, not to lay off workers over 3 years, and to provide sizable bank guarantees.
At the first Shareholder Meeting on December 24, 2005, the Management Board and the Supervisory Board were elected. The Management Board appointed Srdan Dimitrijević as general manager, and Aleksandar Živković as his deputy. The consortium fulfilled all its obligations, and in 2010 it finally became the majority owner of GOŠA FOM. The privatization of GOŠA FOM had been successfully completed, and the company continued to operate well. The factory’s business was good even during the great global economic crisis. That period was marked by the launch of new products and expansion to new markets.
