February 4 (SeeNews) - Bosnian manufacturer of personal and household care products Violeta plans to launch by the end of the year production at local confectionery maker Lasta, which it acquired in the second half of 2019, local media reported.
"Lasta is not operating at present and will remain idle until the renovation of all facilities is completed and new equipment is installed," news daily Oslobodjenje quoted Violeta owner Petar Corluka as saying over the weekend.
Production will probably start by the end of the year, Corluka said, adding Lasta will first offer consumers some five product varieties to test the market.
In November, Corluka said that Violeta plans to invest 20 million marka ($11.4 million/10.2 million euro) in revamping Lasta's facilities and launching production according to the European Union standards.
Prior to its takeover by Violeta, Capljina-based Lasta was majority-owned by Croatian alcoholic drinks and confectionery producer Zvecevo, which went into severe financial troubles back in 2017 linked to the collapse of food-to-retail concern Agrokor.
Capljina is a town of some 28,000 people, located in the southern part of Bosnia's Federation entity, on the Croatian border.
The Federation is one of two autonomous entities forming Bosnia and Herzegovina. The other one is the Serb Republic.
(1 euro = 1.95583 marka)