Tuesday, 22nd January 2008, Velenje, Slovenia

Gorenje and Publicus sign a letter of intent

Last week, Gorenje, d.d., and Publicus, d.o.o., signed a letter of intent on the acquisition of a 51-percent share of the company Publicus. In the recent years, Gorenje has been intensively developing its ecological services, particularly the business activity of comprehensive waste management for the requirements of medium and large manufacturing companies; on the other hand, Publicus is a company with years of experience in the field of communal waste management.

Based on over fifty years of experience and perceived development potential, Gorenje's strategic plans define business operations in the field of ecology as one of the key activities of the company. These operations include ecology projects such as restorations of tar disposal sites, land lots, construction of waste management centers and waste water treatment plants, collection and processing of secondary raw materials (metal, glass, plastics, paper), management of various waste (non-hazardous and hazardous industrial waste, communal waste, waste electric and electronic equipment), and ecology-related research and consulting.

In the recent years, Gorenje has invested into equity of the companies such as Surovina (dealing with secondary raw materials), Kemis (hazardous waste), and the Erico Institute (ecology-related research) .Gorenje is also the owner of the leading company in the field of hazardous waste in Croatia Kemis-Termoclean, and the company Kemis in Bosnia; its plans include extending the offer of comprehensive waste management service for manufacturing company to the entire Southeastern European region.

Mr. Jure Fišer, executive director of Ecology and Energy, commented: "The signed letter of intent enables the acquisition of the majority share in Publicus, thus opening the door to Gorenje into the segment of communal waste management. Thus, Gorenje will cover independently for the first time all required activities of offering comprehensive waste management solutions".