You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

Potential Serbian partners eye revival of Bosnian filter maker - report

Potential Serbian partners eye revival of Bosnian filter maker - report Work, labour costs, worker

BANJA LUKA (Bosnia and Herzegovina), June 5 (SeeNews) - Potential economic partners from Serbia are expected to soon visit Bosnia's bankrupt automotive filter manufacturer Nova Tvornica Precistaca in Rogatica, local media reported on Wednesday. 

"We paid a visit to the factory and made sure that the degree of preservation of the machines and tools is beyond expectations and they can be used not only for the manufacturing of oil filters from the old production programme but for other items as well," news portal quoted Rogatica mayor Milorad Jagodic as saying after a recent meeting with representatives of Serbia's defence ministry and the economy ministry of Bosnia's Serb Republic entity.

Jagodic also said that this is a new hope to revive the old filter producer, which used to employ some 800 people. Nova Tvornica Precistaca employs around workers at the moment.

In 2009, the government of the Serb Republic bought Nova Tvornica Precistaca for some 3 million marka ($1.7 million/1.5 million euro) to prevent it from entering liquidation proceedings.

The filter manufacturer has been struggling to attract investors ever since. 

Nova Tvornica Precistaca is located in Rogatica, in the Serb Republic, which is one of two autonomous entities forming Bosnia and Herzegovina. The other one is the Federation. 

(1 euro = 1.95583 marka)