Serbia’s Agropapuk, Industrija Mesa Djurdjevic shopping for meat processing agency Srem Sid

BELGRADE (Serbia), April 27 (SeeNews) – Serbian companies Agropapuk and Industrija Mesa Djurdjevic have signed an agreement to acquire the insolvent meat processing company Srem Sid, owned by Agropapuk, Bratislav Bogatic.

Prospective buyers plan to invest a total of 3.5 million euros (US $ 4.2 million) in overhauling Srem Sid’s facilities, Bogatic said in a video file posted on the Tanjug news agency’s website on Thursday.

Agropapuk and Industrija Mesa Djurdjevic are also considering an investment of 5.5 million euros to expand a farm in Novo Orahovo.

The two buyers will aim to attract all of the ranchers who have worked with Srem Sid in the past, added Bogatic.

The insolvent since 2001 Srem Sid will process up to 400 cattle per day and export the meat to Turkey, said Tanjug.

The Serbian government announced in January that it had signed a free trade agreement with Turkey to boost its meat and food exports. The agreement provides for annual duty-free exports of 5,000 tons of Serbian beef to Turkey and also sets quotas for sales of raw and refined sunflower oil, sunflower seeds and certain types of baked goods.

($ = 0.82839 euros)

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