Valvoline TAKES OVER Krusevac-based FAM – 120 FORMER EMPLOYEES employed in the company
The US company Valvoline, which recently officially took over a part of the assets and operations of the Krusevac-based lubricant factory, has employed more than half of the former employees of that company, i.e. about 120 of them, as the Beta agency was told by FAM’s CEO Jelica Djurovic Petronijevic. “The new owner has employed more than a half of FAM’s former workers, i.e. about 120 of them. Almost all of the employees, more than 200 of them, first took advantage of the social welfare program, which amounted to 400 euros per year of service, then they applied with the new employer, and some of them got the job,” she said. She recalled that the contract for the sale of the lubricant factory with Valvoline, i.e. its subsidiary Ellis Enterprises East d.o.o. Belgrade, was signed in February and that the official takeover took place on 1 July, when the buyer paid the agreed amount of 9.5 million euros.