Aluminij Shareholders Assembly accepts Abraham Group offer

MOSTAR, April 6 (FENA) – Aluminij Mostar Shareholders Assembly accepted the offer of the Chinese-Israeli consortium led by Abraham Group for the lease agreement at a special session today.

The restart of production will take place in stages, and it is planned to start with a foundry plant first, where about 200 workers should be returned to work.

“We did the first third of the work, and I believe everyone will be happy in the end when the final third in which production should start is reached. I hope that it will be as soon as possible,” said Chairman of the Supervisory Board of Aluminij Mostar, Zdenko Klepić, after the Assembly session.

The Government of the Federation of Bosnia and Herzegovina supported the offer of the Abraham Group at the general meeting, the plenipotentiary of the FBiH Government at the Shareholders Assembly, Stipo Buljan, said he hopes all parties would respect the agreement reached and that production would start as soon as possible.

“I hope that both parties will respect what is signed. It is important to check all the annexes and determine the situation as it really is,” said Buljan.

The Mostar-based Aluminij production facilities were shut down on July 10, 2019, after the company was disconnected from the power grid due to accumulated debt.

The Government of the Federation of Bosnia and Herzegovina is the largest single owner of Aluminij Mostar with 44 percent of the shares, with same amount being held by small shareholders, while the Government of the Republic of Croatia owns the remaining 12 percent of the shares.