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Bosnian ammo maker Igman in 15 mln marka (7.7 mln euro) deals for Egyptian market

Bosnian ammo maker Igman in 15 mln marka (7.7 mln euro) deals for Egyptian market Author: Flazingo Photos. License: Creative Commons, Attribution-ShareAlike 2.0 Generic (CC BY-SA 2.0)

SARAJEVO (Bosnia and Herzegovina), December 2 (SeeNews) - Bosnian manufacturer of small arms ammunition Igman Konjic [SAJ:IGKC] said it has signed two contracts worth 15 million marka ($8.7 million/7.7 million euro) for the Egyptian market.

The signing of the two agreements is expected to strengthen Igman's position on the Egyptian market, Igman general manager Đahid Muratbegović said in a statement.

"The small arms ammunition market is permanently growth, and Egyptian market is one of the most important when it comes to the export of Igman," Muratbegović noted.

No details of the signed contracts were disclosed.

The government of Bosnia's Federation entity owns a 51% stake in Igman, while the remainder is controlled by investment funds and individual shareholders.

(1 euro = 1.95583 marka)

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