Gorenje Announces Sale of Serbian Subsidiary Gorenje Tiki

Gorenje Announces Sale of Serbian Subsidiary Gorenje Tiki

Gorenje, the major Slovenian household appliance manufacturer, announced that in the coming weeks, it will publish a call for bids for its Serbian subsidiary Gorenje Tiki, a small water heater manufacturer. Gorenje also intends to sell the Tiki brand along with the subsidiary.

Gorenje Tiki is the fourth largest water heater manufacturer in Europe. Ninety percent of its products are exported to 34 countries across the globe, primarily to Germany, Austria, Croatia, and Russia. The Serbian market is the third largest and Gorenje Tiki’s market share there is 40 percent.

Gorenje opened the Serbian Stara Pazova plant in 2006 and has later moved the entire small water heater production to the Serbian plant.

Gorenje, the major Slovenian household appliance manufacturer, announced that in the coming weeks, it will publish a call for bids for its Serbian subsidiary Gorenje Tiki, a small water heater manufacturer. Gorenje also intends to sell the Tiki brand along with the subsidiary.

Gorenje Tiki is the fourth largest water heater manufacturer in Europe. Ninety percent of its products are exported to 34 countries across the globe, primarily to Germany, Austria, Croatia, and Russia. The Serbian market is the third largest and Gorenje Tiki’s market share there is 40 percent.

Gorenje opened the Serbian Stara Pazova plant in 2006 and has later moved the entire small water heater production to the Serbian plant.