Statement of Cementarnica Usje Management

Being faced with the effects of the global economic crisis and with the complicated business conditions on the domestic and export markets that have caused significant reduction in production and sales, Cementarnica Usje has been forced without any further delay to seek for solutions that would secure existence of the factory and continuous work on a long-term sustainable basis.

As a result, the Company has today notified the factory union of the need to reduce the workforce by up to 180 job positions, due to the unprecedented business reasons the Company is facing today and in coming years.

Our current preoccupation and final aim is through continuous dialogue and cooperation with the factory union and the employees, in compliance with the Law and the company corporate social responsibility practices and traditions, to find efficient solutions that would secure the sustainability of the jobs of the majority of the employees and social welfare of everyone involved.