According to the report, Aluminij d.d. Mostar (Aluminij Mostar), the only aluminum factory in Bosnia, had announced to sack 362 workers in the smelter.
An Israeli-Chinese consortium, China Non-Ferrous Metal Industry’s Foreign Engineering & Construction and China Machinery Engineering Corporation, had handed in its offer to Aluminij Mostar on Dec 17th, 2019, managing to bring the plant out of the financial difficulties, which was the only party to come forward.
However, Aluminij Mostar said the offer did not meet the requirements. The smelter had been shut down this summer due to sharply increasing debts which were mainly caused by the high cost of alumina and power.
Its debts totaled US$216.5 million.
The management decided to idle the plant at last after several failures in finding partnerships and suitable investors. The future of the plant still remained uncertain.
Bosnia’s Aluminij d.d. Mostar smelter sacks 362 workers
3 Jan 2020 16:15 reported by Margaret Yeh
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