prijava
MOSTAR, August 19 (FENA) - Management of Aluminij d. d. Mostar has informed the public that they do not have the financial resources needed to start the production process and that the promised funds, which were to be secured by August 1, have not been paid yet.
The company stressed that the start date of the smelter was set for September 1, if the necessary funds were provided by August 1. However, the necessary financial support has not been provided to date therefore the process of starting production has not been realized.
Provided that money cannot be fully secured from Aluminij assets, the Company's Management expects financial assistance for severance pay to redundant employees in the initial phase of the restructuring plan.
They also added that the Company's Management is in contact with a potential investor and that the necessary documentation is currently being submitted for data processing, whilst feedback and decisions of potential investor are expected in the coming period.
Aluminij recalled that prior to the company shutdown, the Company's Management Board informed the public and the FBiH Government about the situation in the Company and asked the Government for assistance in overcoming problems that primarily related to the non-competitive price of electricity that Aluminij d.d. was paying.
However, shortly after production closed down, a Crisis management committee was formed consisting of representatives of the trade unions, the Supervisory Board, the Company's Management Board, political representatives of the HNS and the Government of the Federation of BiH. At its first meetings, it was clear that bankruptcy would not be initiated, but that they would try to find a solution and examine all possibilities of restarting production with the employee care plan.
Subsequently, the Company's Management started implementing tasks given at Crisis management committee meetings, therefore they developed the Company’s restructuring plan and Rulebook on Organization and Job Systematization.
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