Bosnia's Federation Extends Bid Deadline for Krivaja Furniture Producer

November 12 (SeeNews) - Bosnia’s Muslim-Croat Federation has given potential buyers 18 more days to bid for its 100% stakes in eight companies grouped the country’s biggest furniture manufacturer, Krivaja Zavidovici.

The deadline for the placing of bids in the open tender for Krivaja Zavidovici has been extended to November 30, the Federation's Privatisation Agency said in a statement without elaborating. The previous deadline is expiring on Monday.

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Last month the government's asset-selling agency offered for sale the eight companies of the Krivaja group without setting minimum prices. In evaluating the received bids, the agency will place 35% weight on the offered price, 35% on the potential investor’s employment plans and 10% each on investment plans, business plans and the experience of the bidders.

Following are details about the companies and their main activity, the turnovers they had last year (in millions of Bosnian marka) and their current staff (available at www.apf.com.ba):

Wood-processing and furniture production are one of Bosnia’s main exporting industries. Krivaja used to be among Bosnia’s top 10 exporters but is now troubled due to lack of fresh investments. The Muslim-Croat Federation government failed to sell Krivaja in one go in 2005 and decided to spin off its constituent factories and try to sell them separately.

The Muslim-Croat Federation is one of the two autonomous parts forming war-divided Bosnia. The other is the Serb Republic.

Krivaja is based in the central Bosnian town of Zavidovici. It is among the several strategic companies which the Federation government has said it would seek to sell this year.

(1 euro = 1.95583 Bosnian marka)