Friday, 29. November 2013.
"HIP-Petrohemija" makes effort to provide stronger support from the state
One of the highest interests of "HIP-Petrohemija" management at the moment is to provide stronger support from the state, which is necessary for economic - financial recovery of the company. "HIP-Petrohemija" has been surviving until now only because of the expressed full understanding of its largest shareholders - NIS ,Srbijagas and EPS, but its further existence, apart from these factors, depends on the support of the Government of the Republic of Serbia, Ministry of Energy, Development and Environmental Protection and the Ministry of Economy.
"HIP-Petrohemija" is the largest producer of petrochemical products in Serbia, the fourth exporter in the country and one of the major chemical industry companies in South Eastern Europe.
After the investment in one of the plants for the production of polyethylene, in 2013. "HIP-Petrohemija" has achieved record results in the physical volume of production. Thanks to this investment to increase capacity, capacity utilization of the leading Ethylene Plant has been increased from about 65% to about 82%, with a tendency of further growth.
The team of experienced experts from "HIP-Petrohemija" has worked out the strategy of the company by 2030. in which there are defined the conditions for sustainable operations of the company. An essentially important segment for future business of the company is realization of investment projects, by which production efficiency is improved and production cost is reduced. The first group of projects worth 11 million euros, with a very rapid period of return of the invested means is in the phase of making documentation, and realization will be in 2014.
A large focus of management is on the employees- in order to ensure the future of the company at the beginning of November there has been signed an Agreement with the Town of Pancevo on realization of the program “Chance- HIP-Petrohemija”, by which the Town and NIS have provided financial means for employment of 50 young people, who are more than 6 months registered with the National employment Service. This autumn Training Center in which trainings of employees are performed has started working.
Since "HIP-Petrohemija" is one of 179 companies in restructuring in which the restructuring process must be completed by June 30, 2014. identity card of the company has been delivered to The Ministry of Economy on time and an intensive cooperation is performed with the Ministry on submitting all the necessary data in order to create the right "image" of the situation of the company.
"HIP-Petrohemija" has exceptional quality products that are demanded on the markets, nearly 60% of production in 2014.has been contracted, the company has employees who are able to meet all of the technical-technological challenges, which means that "HIP-Petrohemija" has a realistic strategic plan for recovery of the company. Also, there is an interest of potential strategic partners, who in the company see great potential for development of petrochemical industry in the region. What is currently the most important step is direct support of the Government of the Republic of Serbia so that within as urgent term as possible there could be agreed strategy for way out from the crisis and survival of "HIP- Petrohemija”.