Sava Tires and Petrol decided to dissolve Karkasa d.o.o.

Ljubljana, 18. November, 2010 At the meeting of partners, the partners in Karkasa, d.o.o.: Sava Tires d.o.o. and Petrol d.d., Ljubljana unanimously adopted a resolution to dissolve this company under an abbreviate procedure without liquidation. Both partners made a declaration pursuant to Article 425/1 of the Companies Act 1, on the basis of which they will continue to be jointly and severally liable for any obligations of Karkasa d.o.o. after the company has been cancelled from the register.

Upon the dissolution of Karkasa d.o.o., the manufacturing of truck tires through the cold or pre-cure redreading process will be abandoned, as Sava Tires intends to introduce the TreadMax concept - the most recent Goodyears concept of production of retreaded tires (hot-cure or »mold-cure« method). The decision is in accordance with Goodyears focusing on the TreadMax technology.

The company is expected to be cancelled from the register in December 2010. However, this does not mean that its customers will be left without an adequate solution. Sava Tires will continue to market tires retreaded under both of the above-mentioned procedures, and will thus increase its customers satisfaction.

The six employees of Karkasa d.o.o. were either offered an employment with another employer (Sava Tires d.o.o.), or other solutions were proposed to them.
The Management Board of Petrol d.d., Ljubljana
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