BANJA LUKA (Bosnia and Herzegovina), November 20 (SeeNews) – Cimos Srebrenica, a Bosnian unit of Slovenian manufacturer of automotive components Cimos, will keep operating as part of the group, but needs to undergo a thorough restructuring process, Banja Luka-based media said on Wednesday.
The decision was made by the commission for the sale of Cimos Srebrenica after the latest international tender failed as there were no purchasers for the Bosnian unit, news portal Indikator.ba said.
The deadline in a tender, which was called on September 27, expired on October 30.
The reorganisation of Cimos Srebrenica will include the optimization of the number of employees as a cost-cutting measure, it said.
The final agreement with Bosnian authorities on the company’s restructuring programme is expected by the end of the year.
Srebrenica is located in the Serb Republic, one of the two entities that form Bosnia and Herzegovina. The other is Muslim-Croat Federation.
Cimos has several other units in Bosnia.