Year 1975
HIP-Petrohemija Jsc. Pancevo was founded on 30 July 1975 as a Work organization for production of petrochemical products, raw materials and chemicals, within the Joint organization of Chemical Industry Pancevo.
Year 1989
Socially-owned company for production of petrochemical products, raw materials and chemicals named HIP-Petrohemija Unlimited Pancevo, was formed on 15 December 1989 by transforming of the Chemical Industry Pancevo.
Year 2004
In 2004, based on the Government conclusion, debt to equity swap was carried out, and creditors - Republic of Serbia, Development Fund of the Republic of Serbia and Naftna industrija Srbije, became owners of the capital of HIP-Petrohemija. In accordance with the new capital structure, and on the basis of the consent of the Republic of Serbia, on 20 July 2004 the former social enterprise was transformed into joint-stock company for the production of petrochemical products, raw materials and chemicals HIP-Petrohemija Pancevo Jsc.
Year 2009
Due to extremely difficult financial situation, HIP-Petrohemija undergoes the process of restructuring in 2009. Based on the Conclusion of the Serbian Government and the Decision of the Privatization Agency as of 25 May 2009, the company is registered as a joint-stock company for the production of petrochemical products, raw materials and chemicals HIP-Petrohemija Pancevo – in restructuring.
Year 2012
At the end of 2011, HIP-Petrohemija made a decision about withdrawal of shares from regulated market and initiate the procedures for cessation of characteristics of public limited company, as one of the measures of financial restructuring for the purpose of smoothly implementation of conversion of claims of creditors into initial capital.
in March 2012, after exclusion of shares from off-board market, Securities Commission of Republic of Serbia, on request of Petrohemija, made a solution of deletion of HIP-Petrohemija from the Shareholders’ register. By deletion of Petrohemija from Shareholders’ register, conditions have been met for the start of activities on implementation of procedures of conversion of claim of creditors, in accordance with the Agreement on Strategic Cooperation between NIS a.d. Novi Sad and HIP-Petrohemija in restructuring.
HIP-Petrohemija was the first company in Serbia, which has been successfully aligned with the new legal provisions and lost the characteristics of public company.
Year 2014
Year 2017
The most important measures of the said Plan included: debt write-off, debt conversion into capital, obligation settlement, cancelation of securities, and covering of accumulated loss. In much shorter time than expected, the Plan was executed by all its items, therefore the financial restructuring of HIP-Petrohemija a.d. Pančevo has been completed.
Also the reorganization goal has been reached that, through the Prepackaged Reorganization Plan, HIP-Petrohemija would be able to have positive business results and to operate its business indipendently.
In its preparations for privatization procedure HIP-Petrohemija has selected the privatization consultant, KPMG d.o.o. Belgrade. KPMG d.o.o Belgrade is in charge for preparing a report on the privatization subject on the basis of the submitted documentation, and after that suggest a model and method of privatization for HIP-Petrohemija a.d. Pančevo to the government of the Republic of Serbia.
Year 2022
Year 2023
After the legal form change in 2022, and successful completion of the closing activities, in order to have the realization of the Strategic Partnership Agreement continued, the Assembly Meeting brought a decision on 09 June 2023, about the Company share capital increase through a new money investment by the shareholder NIS a.d. Novi Sad as being a strategic investor.
After the brought decision was registered and the subscribed capital paid-in the shareholder NIS a.d. Novi Sad became the owner of 90,00 % of all shares of the Company, while the Republic of Serbia is the owner of 10,00 % of all shares of the Company.
