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Montenegro/March 2015

Montenegrin government announced a public tender for the sale of 50,75% of share capital of the state-owned arms company Poliex from Berane. The tender was announced in line with the program of privatization adopted by Privatization Council of Montenegro Government.

Poliex is a Joint Stock Company with capital of €2.2m and 389,751 ordinary shares with a nominal value of €5,68 per share.

POLIEX was established in 1982 as a factory specialized in producing plastic explosives. In addition, the company provides complete mining services and transport of explosive and other dangerous materials. With annual turnover of $1 to 2m, Poliex is one of the most important providers of components of the arms industry in Montenegro.

According to the tender’s conditions any potential buyer will have to have a “successful company in the business of selling weapons” with an annual income of at least €7m . It needs to provide proof also that it has never been on the list of companies that have violated United Nations arms embargoes.

Today, Poliex employs skilled and experienced engineers. Moreover, Chief of R&D department of POLIEX Corp. Mr. Živko Andrić have been named as “Scientist of the Year 2013 in category “Patent, Innovation or New product”.

Jelena Zivkovic
jelena.zivkovic@eurofast.eu
Eurofast Global, Podgorica Office
Tel: +382 20 228 490
www.eurofast.eu