Gorenje has decided for the sale because it wants to focus on its core activity, which is household appliances, while Gorenje Surovina is a waste processing company, the group said in a press release on Friday.

Elemental Holding is a leading Polish company dealing with collecting and processing of waste metals. With subsidiaries in Poland, Slovakia, Lithuania and Turkey, the company is a key player in the processing of electronic waste and car catalysts.

Its market capitalisation exceeds EUR 150m.

Gorenje management is moreover negotiating on the sale of its stake in another subsidiary, Publicus, also dealing with waste processing, and its daughter company Ekogor, with Ljubljana-based company HIS, which now owns 49% of Publicus.

These talks are also expected to end in June.