Bosnia's Federation offers for sale 51% of Remontni Zavod

The majority stake in the company is offered for sale to local and foreign investors, the asset-selling agency said in a statement on its website on Tuesday.

Bids should be sent in by February 4, 2013.

Remontni Zavod’s total income stood at 504,249 marka ($334,830/257,818 euro) at the end of June. The company’s total income fell to 1.36 million marka in 2011 from 1.75 million marka a year earlier. It had 57 employees at the end of October.

Remontni Zavod is based in Travnik in the Muslim-Croat Federation, one of the two entities that form Bosnia and Herzegogina. The other is the Serb Republic.

(1 euro= 1.95583 Bosnian marka)