MLM foundry to be privatised


The two state-owned asset managers hold 99.97% of what is one of the last remaining industrial majors in Slovenia's second largest city. They gained control of the company in a debt-to-equity conversion in mid-2015.

The SSH did not provide any details of the plans beyond the notification of the shareholder agreement.

MLM is still in the process of strategic restructuring, which is focused on specialised complex castings for the car industry, and is yet to meet restructuring objectives.

Public filings reveal that MLM posted sales of EUR 31m in the first nine months of 2015, EUR 5.5m less than planned. In the third quarter alone the loss amounted to EUR 1.5m, compared to a planned profit of half a million euros.