FOR IMMEDIATE RELEASE
Tuesday, December 17, 2019
M.T. Abraham Group’s Official Proposal for Leasing Aluminij d.d. Mostar
M.T. Abraham Group and its international partners China Machinery Engineering Corporation (CMEC) and China Nonferrous Metal Industry’s Foreign Engineering & Construction Co., Ltd. (NFC) have been pursuing together with affiliated authorities on all levels in the Federation of Bosnia and Herzegovina, a cooperative effort to ensure the existence of Aluminij d.d. Mostar factory and secure its successful future operations with the ultimate goal of preventing its bankruptcy, rescuing thousands of jobs and preserving one of the Federation’s economic crown jewels.
Our primary objective is to reactivate and stabilize the existing smelter operations, introduce new operational efficiencies, open a new modern line of product production and enhance management practices which will ensure long term stability and profitability thus showcasing once again Bosnia and Herzegovina as a regional and global manufacturer and exporter of aluminium.
To date, our efforts aimed at conducting a thorough due-diligence process, have been comprehensive and have required a significant investment of funds, time and resources both by M.T. Abraham Group and by our partners CMEC and NFC in order to form a realistic strategic plan to accomplish the national mission of reopening Aluminij d.d. Mostar.
It has been said before, for Aluminij d.d. Mostar and its workers, time is of the essence and they are asking for an immediate solution. M.T. Abraham Group’s initial proposal has been submitted to the Government on October 17th 2019 and has been rejected. Upon receiving the Government’s remarks, the proposal has been revised and amended accordingly and the second and final proposal has been submitted on December 12th 2019 to General Assembly and Supervisory Board of Aluminij d.d Mostar.
M.T. Abraham Group and its partners are ready and willing to immediately start implementing the strategic plan. Should our final proposal is accepted, our professional teams, partners and resources are available and ready to move forward without further delay
M.T. Abraham Group S.A.
Company Registration No. 11438
AFI Concord Tower | 21 Bar Kochva Street, B’nei Brak, Israel
E-mail: [email protected] | Tel: +972 (0) 3 7433255