Jan 25, 2006. /Lesprom Network/. Serbia would launch a piecemeal privatisation of the restructured units of the state-owned cellulose producer Viskoza in 2006, Viskoza CEO Marko Blagojevic said. Viskoza is a holding company comprising 13 units, which will be transformed into independent companies under a government programme for privatisation. The state will write off Viskoza's undisclosed debts to creditors before offering the newly formed companies for sale. Those units, which are not sold off will face insolvency, Blagojevic added. In July 2005 the Serbian Government allocated a total 55 mln Serbian dinars ($741,750/634,000 euro) for compensations to the 255 redundant employees of Viskoza. After the staff reduction, Viskoza has 1,890 employees. Viskoza in Loznica, western Serbia, suspended its production in the middle of February 2005 through shortage of raw materials.