'Without government's help, Aluminij company won't survive'

'Without government's help, Aluminij company won't survive'

'Without government's help, Aluminij company won't survive' Izvor: Aluminij.ba

The Aluminij company is facing serious problems due to global instability and lack of interest of the state to help this company, said Drazen Pandza, Aluminij’s General Manager, in a letter to the Federation of Bosnia and Herzegovina (FBiH) entity Prime Minister and the FBiH Finance Minister.

"We’ve come to a breaking point when the FBiH’s engagement is the only solution for the company because we have no more manoeuvring room and unless there is a change of the situation, we won't survive," Pandza said.

Asking for help from the authorities, the head of Bosnia's largest aluminium producer said the trade war between the US and the EU led to a disorder in the world exchange markets and with the rise in electricity prices, the General Manager said Aluminij’s further business operations seem impossible.

Pandza said that the price of aluminium at the London Metal Exchange (LME) in July 2018 was USD 195 higher compared to the same month last year, however, the prices of raw materials used in production have increased even more which is why the Aluminij company lost BAM 5.2 million, Pandza said.

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