October 17 (SeeNews) - Zeochem, a subsidiary of Swiss paper and chemicals company CPH Chemie + Papier Holding, said on Monday it had acquired a 5,400 sq m industrial site in Bosnia's municipality of Zvornik to build a new production plant.
"The development represents a high-single-digit million-franc investment," the holding group said in a statement.
The plant, planned to be completed by the end of 2017, will employ 40 people. It will manufacture molecular sieves powder and silica chromatography gels.
The plant will be built close to Alumina, a local partner for the company's downstream materials supply.
“We have embarked on a long-term collaboration with our business partner Alumina,” said Peter Schildknecht, CPH Group CEO. “And, as a result, we continue to offer our high-quality products to customers we have been serving in the past with products manufactured in our Swiss facility in Uetikon.”
Alumina was founded in Zvornik in 1978, and manufactures aluminum oxides, aluminum hydroxides, zeolites and sodium silicate (water glass) with its workforce of 1,250.
CPH Chemie + Papier Holding AG is the holding company of Switzerland-headquartered diversified industrial group CPH. The CPH Group develops, manufactures and distributes chemical products, wood-based paper and pharmaceutical packaging films. The group and its subsidiaries maintain seven production facilities in Switzerland, Germany, the USA and China.