Prime Minister of the Federation of Bosnia and Herzegovina Nermin Nikšić held a meeting today about the situation in the New Ironworks in Zenica, with the participation of representatives of several ministries and institutions, with the aim of finding a solution to stabilize this industrial system.
The conclusion of the meeting is clear – instead of bankruptcy, Government of the Federation of Bosnia and Herzegovina initiates the process of consolidation and restructuring, in order to preserve production, jobs and the stability of the domestic industry.
Nova Željezara Zenica has a key role in the economic chain of the Federation of Bosnia and Herzegovina, with direct connections to companies such as Railways of the Federation of Bosnia and Herzegovina, Elektroprivreda Bosnia and Herzegovina and Energoinvest. Its eventual shutdown would have serious consequences for the economy and a large number of employees.
Although in the past two months the Government and the competent ministry monitored the activities of the new owners and provided support, debts to public companies continued to grow, without a clear plan for the survival of the company, for which bankruptcy proceedings had already been announced.
That is why a set of measures has been prepared to support strategically important companies, including Željezara Zenica, regardless of ownership structure.
He is recognized as the key bearer of the potential consolidation process Energoinvestwho already has experience in managing complex industrial systems. The management of this company received approval for the initiation of a strategic partnership and the beginning of talks with the owners of the Ironworks, with the support of the Government for a possible takeover under clearly defined conditions.
The Government says that they expect a constructive approach from the owner and a willingness to talk with partners who have knowledge, capital and a serious intention to stabilize the business and return the company to a sustainable path of development.
The goal of this approach is clear – to preserve industrial production, protect jobs and ensure the long-term stability of the sector.
The Government of the Federation of Bosnia and Herzegovina emphasizes that it remains firmly committed to preserving the industrial base and will not allow the shutdown of strategic companies if there are real chances for their recovery.
