SARAJEVO (Bosnia and Herzegovina), August 24 (SeeNews) – The supervisory board of Bosnian aluminum smelter Aluminij has appointed Mario Gadzic as the company's director following a tender procedure, the company said on Wednesday.
Gadzic has a ready-made reconstruction plan for the company which he intends to implement in his four year term, Aluminij said in a statement on its website.
Prior to this appointment, Gadzic was employed in the banking sector. Aluminij has been headed by an acting board of directors since September last year.
In July, Aluminij said it is seeking a strategic partner in Germany to restore its production to full capacity.
The smelter is looking for a partner to meet short-term and long-term company goals including restoring the company's production to full capacity, constructing a new energy facility, constructing a metal processing plant and an electrolysis plant, it noted at the time.
In October last year, Bosnian power utility Elektroprivreda HZHB and commercial banks unblocked the accounts of Aluminij that were frozen for a period of 20 days over high debts.
The government of Bosnia's Muslim-Croat Federation owns 44% of Aluminij, as much is controlled by workers and small shareholders, while the Croatian government holds a stake of 12%.
Aluminij is based in Mostar in the Federation, one of the two autonomous entities that form Bosnia. The other is the Serb Republic.