Business News

Maribor Wine Maker to Be Managed by Dutch-Asian Firm

Maribor, 27 August (STA) - Once prominent Maribor's wine making company Vinag, which has been in receivership since April, can hope for a brighter future after a Dutch-Asian firm Marestate leased it along with its wine-producing and storage facilities just ahead of this year's harvest.

A one-year lease contract, in force since Friday, envisages the payment of EUR 5,200 a month for the use of most of Vinag's assets, including an old wine cellar in the Maribor city centre, which is subsequently to re-open for public, the daily Večer reports on Wednesday.

Marestate, a real-estate agency, founded last year and seated in Ljubljana, is 100% owned by Dutch Harm Jan Prins.

According to the web site of the Agency for Public Legal Records (AJPES), the new manager of Vinag, which has also expressed interest in buying the company, plans to later transfer Vinag's assets to a new leaser, company Vinmar, a Maribor-based Dutch-Asian joint venture set up solely for this purpose.

The Maribor District Court allowed the transfer under the condition that the company receives a capital increase of at least EUR 200,000 as a guarantee that Vinmar will stick to the lease contract terms.

The new managers of Vinag plan to produce a million litres of wine in the first year and up to 3 million annually over the next three years.

Their goal is to export to the Asian market, which Prins believes is big enough for all Slovenian wines, not just Vinag's. He therefore announced cooperation with other Slovenian wine makers.

The total value of Vinag's real-estate is some EUR 4.4m, while their liquidation value stands at some EUR 3.2m.

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