Paracin-based Stofara remains in textile industry - Turks announce up to EUR 30 million worth of investments

Turkish company Fistel internacional, which this spring took over Paracin-based Branko Krsmanovic Textile Plant - Stofara in bankruptcy, has decided to keep Stofara engaged in textile production.
The new owner should start production in the spring 2016 if the state includes this Turkish firm into the subsidy program for foreign investors by then, explained lawyer Aleksandar Nikolic from Jagodina, an attorney of the Turkish company that registered a business organization in Belgrade.
He added that the owner of Stofara intended to hire between 150 and 200 workers and invest between 15 and 30 million euro in the first phase.
Fistel interenacional signed a preliminary agreement on the acquisition of Stofara on April 25th and paid RSD 108 million within the prescribed period. They were buying 30,000 square meters of production, storage and other space in facilities and seven hectares of land.
Stofara was sold based on the decision on bankruptcy issued by the bankruptcy judge of the Commercial Court in Kragujevac.

Štofara d.o.o. Paraćin

Privredni sud Kragujevac

Nacionalna služba za zapošljavanje Kragujevac

Branko Krsmanovic Textile Plant

Stofara Paracin

Fistel internacional Turkey

Aleksandar Nikolic

Commercial Court in Kragujevac

National Employment Agency