Recent History
The "black days" of the 1990s left a deep scar on PPT. In 2011, recovery of the factory has began. PPT has sought privatization, and factory workers are still hoping that the process of privatization will help PPT to rise up and regain some of its market dominance in the region.
The first tender for the sale of Prva Petoletka, held in June 2005, was unsuccessful. The second tender, opened in November 2007, also failed. The government decided to sell the factory in parts rather than as a whole because of the lack of interested parties to buy entire company. In 2009, an agreement was reached with the Russian company "Bummash" from Izhevsk, but deal failed once again. After that, restructuring of PPT has started and some members of the group have already found strategic partners.
Read more about this topic: Prva Petoletka
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