SARAJEVO (Bosnia and Herzegovina), March 17 (SeeNews) - Bosnia's Muslim-Croat Federation on Monday invited investors to express interest in taking part in the privatisation of leather producer KTK Visoko.
Potential investors can express interest in buying the 67% state-owned stake in KTK Visoko, in buying one of the five factories that comprise the plant, in forming a joint venture with the company or in buying some of its property, the Federation’s Privatisation Agency said in a statement.
The Muslim-Croat Federation is one of the two autonomous parts forming war-divided Bosnia. The other is the Serb Republic.
The deadline for submitting letters of interest is March 31. The privatisation agency will then call a tender for KTK Visoko based on the most attractive options expressed in the letters.
Kozarsko Tekstilni Kombinat (KTK) is based in Visoko, in the central part of Bosnia.
The company was established in 1946. It used to be the biggest leather producer in the former Socialist Yugoslav federation with annual exports worth more than $70 million (44 million euro). It currently exports its output to Italy, Austria, Turkey, the Czech Republic and Slovenia.
KTK Visoko comprises two factories for the production of leather, two shoe factories and one unit for the production of ready-made leatherwear. It employs 1,218.
The Federation government tried to sell KTK Visoko in one lump in 2006 but no interested investors showed up.
($ = 0.6337 euro)
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