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History

HIP-Petrohemija LLC Pancevo is the largest producer of petrochemical products in the Republic of Serbia and an important company in the chemical industry of Southeast Europe.

HISTORY OF HIP-PETROHEMIJA

At the end of the sixties of the 20th century, as part of the economic development of the then Yugoslavia at the state level, the need for the construction of a petrochemical complex was recognized in order to reduce the import of basic chemical products and improve the country's balance of payments.

The available raw material base, experienced staff already formed and extremely favorable transport possibilities in all types of traffic led to the decision to build this industry as part of the existing Chemical Industry in Pančevo.

In the period from 1971 to 1980, after choosing the most modern technology and equipment originating mainly from the USA, 6 factories were built: PENG, PEVG, VCM, PVC, Ethylene and Electrolysis, technologically connected to each other by ethylene and chlorine lines. The whole is rounded off by the Energy Plant and Wastewater Treatment Plant, as well as numerous specialized sectors.

Timeline

Timeline

1975.

HIP-Petrohemija was originally founded as a working organization for the production of petrochemical products, raw materials and chemicals within the Pančevo Chemical Industry.

1989.

With the transformation of the Pančevo Chemical Industry, the Social Enterprise for the Production of Petrochemical Products, Raw Materials and Chemicals HIP-Petrohemija with p.o. Pančevo.

1991.

HIP-Petrohemija is affiliated with the Synthetic Rubber Factory in Elemir, near Zrenjanin.

1999.

In the NATO bombing, two HIP-Petrohemija factories were destroyed: Electrolysis and VCM, while the third PVC factory was disabled, which destroyed 40% of production capacity.

Person speaking in front of a crowd

2004.

Social enterprise HIP-Petrohemija changes its form of organization and becomes a joint stock company.

Petro

2009.

With the decision of the Privatization Agency, the restructuring process of the joint-stock company for the production of petrochemical products, raw materials and chemicals HIP-Petrohemija Pancevo, which at that time contained the phrase "under restructuring" in its name, began.

Upravna zgrada HIPP

2014.

In accordance with the Law on Privatization, the Registry of Business Entities issued a decision deleting the designation "under restructuring" for all business entities undergoing privatization that were in the process of restructuring on the date of entry into force of this law.

Petrohemija default graphic

2015.

According to the Decision of the Government of the Republic of Serbia on the determination of privatization subjects of strategic importance, HIP-Petrohemija is included in the group of 17 privatization subjects of strategic importance for the economy of the Republic of Serbia.

2016.

At the proposal of HIP-Petrohemija, the Commercial Court in Pančevo issued a Decision on the initiation of preliminary proceedings to examine the fulfillment of the conditions for opening bankruptcy proceedings in accordance with the Advance Prepared Reorganization Plan (UPPR), as well as a temporary measure by which the Company had protection from the continuation of initiated and initiation of new forced collection proceedings.

2017.

The Assembly of shareholders of the Company passes a Decision adopting the UPPR and orders the initiation of bankruptcy proceedings by reorganization of the Company in accordance with the adopted UPPR. The Commercial Court in Pancevo issues a Decision confirming the adoption of the UPPR.

2021.

Ministry of Economy on behalf of the Government of the Republic of Serbia, NIS a.d. Novi Sad and HIP-Petrohemija signed a Strategic Partnership Agreement.

2022.

The Assembly of shareholders of the Company made a decision to change the legal form of the Company. After the payment of dissenting shareholders, HIP-Petrohemija continued to operate as a limited liability company with two members: NIS a.d. Novi Sad and the Republic of Serbia.

2023.

The Assembly of the Company, with the aim of further implementation of the Strategic Partnership Agreement, made a decision to increase the Company's basic capital with a new financial contribution from the member of the Company NIS a.d. Novi Sad in the total amount of RSD 17,591,055,000.00. After registration of the payment, the members of the Company are NIS a.d. Novi Sad with a 90% share in the Company's capital and the Republic of Serbia with a 10% share in the Company's capital.

2023.

The Assembly of the Company adopted a new Founding Act, which includes all the changes that result as a consequence of the implementation of the Strategic Partnership Agreement.