Supervisory Board of Aluminij adopts the Business Plan of the Company for 2017

Aluminij Mostar

Members of the Supervisory Board of Aluminij d.d. Mostar, chaired by Dalibor Miloš, unanimously approved, with full approval and support, the Work Report of the Board of Directors presented by CEO Mario Gadžić, with the emphasis on the implementation of the Strategic Restructuring Plan of Aluminij, which successfully sets of the foundation for a positive business operations in this year.

- This is confirmed by positive business results in the first two months of the current year, since the new business circumstances have been in effect, in the first place new contracts. In the shortest possible time, we have identified the Company ´illness´ and started to struggle with everything that represented any threat for it, and we keep going with the extensive restructuring of the inherited debts, which are still the greatest burden to us - Gadžić said in short referring to the activities focus of the Board of Directors led by him. In just a few months, they have managed to bring back Aluminij from the edge of bankruptcy, setting a healthy basis for its recovery.

The ambitious Business Plan of the Company for 2017 was adopted unanimously, with a clear plan for achieving the year-end profit. This plan envisages an increase in revenue of 40 percent compared to last year, as well as a 23-percent increase in the production. The plan is also to restart 30 electrolytic pots until the end of the calendar year. Total investments in the production will reach BAM 25 million, and the plan is to make BAM 46 million of savings compared to the last year's budget.

The SB President Miloš presented optimistic views on the future of the Mostar smelter, welcoming a committed work of the Board with an evident turnaround in the way of business performance and concrete positive moves. He stressed that there was still a lot of work in the year ahead, and that good starting indicators could not mean relaxation, but instead they seek to maintain a high pace of work and constant vigilance.

- These results really give hope to optimism that Aluminij is on the path to recovery, but one must not lose sight of the awareness of the state in which the company was taken over, and that requires a lot of work and painful steps in the time ahead - concluded the Company`s SB President.

Aluminij Mostar
Aluminij Mostar
Aluminij Mostar
Aluminij Mostar
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