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Banking

Brikel takes over Serbia's tyre maker Trayal Corporation.

Brikel takes over Serbia's tyre maker Trayal Corporation. The local briquette producer Brikel has signed a contract with the privatisation agency of Serbia for taking over 76.9% of Trayal Corporation at the price of EUR 12.12mn. Brikel has also pledged to invest EUR 25.13mn in the Serbian tyre maker. Brikel has won the privatisation tender in competition against the Dutch-registered Elcor Holding. Trayal is the second largest tyre producer in Serbia . It has units for manufacturing of other rubber goods, protective devices, and industrial explosives. Brikel is owned by Bulgaria 's tycoon Hristo Kovachki, who has direct and indirect participation in several small and medium-sized financial and energy firms.

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