FOR IMMEDIATE RELEASE
Tuesday, October 22, 2019
M.T. Abraham Group’s Official Proposal for Purchasing Aluminij d.d. Mostar
On Thursday, October 17th 2019, at the Government office in Sarajevo, Mr. Amir G. Kabiri the Chairman of M.T. Abraham Group and his professional team, met with the Prime Minister of the Federation of Bosnia and Herzegovina, Mr. Fadil Novalić, the Deputy Prime Minister who is also serving as the Minister of Finance of the Federation of Bosnia and Herzegovina, Ms. Jelka Miličević, the Minister of Energy, Mining and Industry of the Federation of Bosnia and Herzegovina, Mr. Nermin Džindić and presented to them on behalf of the group an official proposal for purchasing Aluminij d.d. Mostar by M.T. Abraham Group.
The proposal submitted by the M.T. Abraham Group is a result of three months of rigorous due-diligence process, which included numerous visits by professional teams, such as both financial and experts from the aluminum industry, as well as visits by delegations of the Group’s partners, Chinese state-owned companies, namely, China Machinery Engineering Corporation (CMEC) and China Nonferrous Metal Industry’s Foreign Engineering & Construction Co., Ltd. (NFC), both of which submitted their professional reports and proposals regarding the factory as part of the Group’s proposal.
M.T. Abraham Group’s proposal, with all its components, including complete analysis, future investments and projections, has been carefully considered to address all difficulties and challenges currently faced by the factory. The group believes that the proposal presented to the Government of the Federation of Bosnia and Herzegovina is viable, realistic and represents the best possible solution to the factory’s current status, but also providing an overall solution for Aluminij d.d. Mostar’s future.
Should the Government of the Federation of Bosnia and Herzegovina approve M.T. Abraham Group’s proposal, a binding agreement will be signed and the group will start executing the first steps of implementing its strategic plan for Aluminij d.d. Mostar.
M.T. Abraham Group wishes to thank the Government of the Federation of Bosnia and Herzegovina and all other parties involved, for their assistance and cooperation during the due-diligence process, and looks forward to continuing this collaboration in the coming years.
For any further information please contact our press office at: [email protected]
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