January 30 (SeeNews) - Bosnia's Prnjavor-based furniture manufacturer Standard, an IKEA supplier, plans to increase its production by 30% in the first half of 2020, local media reported.
Standard is introducing a new product - coffee table - and plans to employ at least 100 workers in order to meet demand, Bosnia's Serb Republic public broadcaster RTRS reported on Thursday.
The company plans to produce 500 coffee tables per day, or more than 100,000 annually.
"This product constitutes some 25 to 30% of our total production," RTRS quoted Standard CTO Dragoljub Todoric as saying.
In the last three years, the company has invested some 6 million marka ($3.4 million/3.1 million euro) in equipment procurement.
In 2019 alone, the company invested 1.1 million marka in equipment and facilities.
Its furniture production last year was worth 24 million marka and the plan for 2020 is to manufacture furniture worth 30 million marka, RTRS reported.
Standard collaborates with IKEA for 20 years. It currently employs 290 people.
Prnjavor is a town in the Serb Republic - one of two autonomous entities forming Bosnia and Herzegovina. The other one is the Federation.
(1 euro = 1.95583 marka)