On October 12 Intertrust Holding successfully acquired 85.41% of the capital of a the FAM plant, a unit of Nish-based Minholding, in an auction organized by the Serbian Privatization Agency.

FAM is a machine-building plant, producing equipment for the metallurgical and ore-dressing industries, etc.

The company paid around 850,000 euros for the new acquisition, which has liabilities in the amount of 1.24 mln euros, and employs 140 people (20 experts). At the moment the plant works at around 20-30% of its capacity. According to expectation 2007 production output will be worth 1.6 mln euros.

A total of 250,000 euros must be invested within the first year after the acquisition.

Intertrust Holding plans to invest a considerably larger amount in order to increase workload. The company will do the same with its own production strategy, which includes repair works and completion of two large investment projects in Lead and and Zinc Complex Kardjali and Interpipe Sofia, which were awarded First Class Investor Certificates from the National Investments Agency. The company intends to release production on the hoe market as well a to export.

The acquisition of the Serbiam plant is another step towards the implementation of the company long-term program for improving the group's economic structure.

Intertrust Holding controls 89.994% of the capital of Lead and Zinc Complex AD.