Slovenian foundry Mariborska Livnica opens subsidiary in Bosnia.

By bne IntelliNews March 19, 2010
Slovenian foundry Mariborska Livnica Maribor (MLM) is to open a subsidiary, MLM Alutec, in Bugojno, Federation government announced. The soon-to-be-established company will produce parts for the automobile industry in Western Europe . The Slovenian investor is to invest some EUR 6mn (KM 11.7mn) in its Bosnian subsidiary in the next 4 years. It is to ensure employment of some 50 workers in its first year of operations, while the employment will rise to 120 persons later on. The firm should generate revenues of EUR 3.9mn in 2010, according to earlier information from the Slovenian company. The realised turnover should increase to EUR 7mn in 2011, according to the plans.

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