Montenegro: Privatisation of Poliex: Montenegrin arms exporter

International Tax Review is part of Legal Benchmarking Limited, 4 Bouverie Street, London, EC4Y 8AX

Copyright © Legal Benchmarking Limited and its affiliated companies 2025

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

Montenegro: Privatisation of Poliex: Montenegrin arms exporter

zivkovic.jpg

Jelena Zivkovic

The Montenegrin government announced a public tender for the sale of 50.75% of share capital of the state-owned arms company Poliex from Berane. The tender was announced in line with the privatisation programme adopted by the Privatisation Council of the Montenegro Government. Poliex is a joint stock company with capital of €2.2 million ($2.7 million) and 389,751 ordinary shares with a nominal value of €5.68 per share.

Poliex was established in 1982 as a factory specialised in producing plastic explosives. In addition, the company provides complete mining services and transport of explosive and other dangerous materials. With annual turnover of between $1 million and $2 million, Poliex is one of the most important providers of components of the arms industry in Montenegro.

According to the tender's conditions any potential buyer must have a "successful company in the business of selling weapons" with an annual income of at least €7 million. It needs to provide proof also that it has never been on the list of companies that have violated UN arms embargoes.

Today, Poliex employs skilled and experienced engineers. Moreover, Živko Andric, the chief of Poliex's R&D department, was named by the Montenegrin Science Minister as "Scientist of the Year 2013" in the category covering patents, innovation or new products.

Jelena Zivkovic (jelena.zivkovic@eurofast.eu)

Eurofast Global, Podgorica Office

Tel: +382 20 228 490

Website: www.eurofast.eu

more across site & shared bottom lb ros

More from across our site

The cuts disproportionately affected staff in certain positions, the report also found; in other news, MHA announced the €24m acquisition of Baker Tilly South East Europe
The plan aims to improve the efficiency, transparency, and effectiveness of direct tax administration in India
Meanwhile, South Africa’s finance minister has accepted a court decision on suspending a VAT increase and US President Donald Trump mulls a 100% tariff on foreign films
Jaime Carey speaks about the benefits of his tax background, DEI values, the use of AI for a smarter legal practice, and other priorities that will define his presidency
Historically low levels of attrition over consecutive years made a ‘difficult decision’ necessary, PwC has reportedly said
WTS Global is also vetting new potential member firms in Algeria, Cote D’Ivoire and Benin, Kelly Mgbor tells ITR in an exclusive interview
The scope of qualifying pillar two tax credits could reportedly be broadened; in other news, hundreds of IRS appeals staff are to resign
For many taxpayers, the prospect of long-term certainty that a bilateral APA offers can override concerns about time, cost and confidentiality
Levine, who served under the Joe Biden administration, led the US’s negotiations on the OECD’s two-pillar solution
The deal to acquire ITR's parent company is expected to complete by the end of May 2025
Gift this article