Austria's Swietelsky to liquidate Bosnian unit - report

The municipal court in Sarajevo approved the start of the liquidation process for the Sarajevo-based unit on October 26, news provider Indikator reported.

The company participated in the reconstruction of several railways and the construction of roads on Corridor Vc in Bosnia, but it has not generated revenue in the past few years, according to the report.

Swietelsky established its unit in Bosnia with a capital of 2,000 marka ($1,055/1,023 euro), according to Bosnia's registry of business entities. The subsidiary was established in 2014, according to local media.

(1 euro = 1.95583 marka)