Without the reaction of the Government of FBiH, the scenario from yesterday's official letter becomes inevitable

Aluminij Mostar

According to information published in the media, Management of Aluminij confirms the fact that the situation in the factory is extremely complex and extremely troublesome, about which all levels of government in the state, from the Council of Ministers, the entity and county to the city authorities, as well as the leaders The Foreign Trade Chambers of BiH and the Chambers of Commerce of FBiH, as well as the entire state government in the Republic of Croatia and international actors in BiH, the High Representative of the International Community and Head of the Delegation of the European Union Mission are informed.

- What is the difference compared to yesterday's letter is the fact that we have a contract with Elektroprivreda HZHB for electricity supply until Monday, October 15th, and we are continuing with the persistent search for a concrete reaction from the Government of FBiH, i.e from all those who have been notified. Please note that the Government has never fulfilled its obligations under Annex no. 8 on the Agreement between the Government of FBiH and Aluminij, which realization would not have brought Aluminij in this situation. I have to say that the situation is extremely alarming, because if a concrete reaction is absent, the scenario from yesterday's letters becomes inevitable. Due to the global market disruption, especially because of the enormous price of electricity and alumina, Aluminij is insolvent and can no longer meet current financial obligations - commented members of the Acting Management Board Drazen Pandža and Boris Vican, who have informed members of the Supervisory Board of the Company as well as members of the Presidency and the Assembly of the Independent Employees' Union about the situation.

Let’s recall that the FBiH Government owns 44 percent of Aluminij's share capital, small shareholders also 44 percent, and the Government of the Republic of Croatia remaining 12 percent. The Mostar factory has 900 employees and considering the employees of Aluminij’s cooperatives in BiH and the Republic of Croatia, as many as 40 thousand people depend on its existence.

- We are aware of immense Aluminum's influence on the overall economic trends in BiH, on foreign trade and on the overall economic and social stability of the country, and we have done everything we could to this end, but the burden of accrued debts, insolvency, the inability to obtain bank guarantees for the conclusion of long-term electricity supply contracts, ultimately a complete disruption of electricity and alumina prices, led us to a point where we could not go any further – said the Magament of Aluminij.

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