Serbian Unit of Bulgarian Car Battery Maker MonBat To Launch Trial Lead Recycling in Two Months

MonBat DOO, the Serbian unit of Bulgaria's car battery maker MonBat, is expected to start trial recycling of lead batteris and scrap in two months after it received an environmental go-ahead from the Serbian authorities, the parent company said on Wednesday.

"Obtaining the ecological permit was one of the final steps needed for the start up of production operations of the Serbian unit," MonBat said in a statement

MonBat initially planned to open the recycling plant last year but postponed the launch following administrative hurdles. The 7.0 million euro ($10 million) plant is located in the town of Indjija, in northern Serbia.

MonBat is majority-owned by Bulgarian lubricants producer Prista Oil. Exports generate about 85% of MonBat's revenue with the company exporting to Germany, the Netherlands, Ukraine and Bulgarian neighbours Romania and Serbia.

MonBat stock closed flat at 6.5 levs ($4.7/3.3 euro) in volume of 3,450 shares on Wednesday.

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