Minister Džindić's Games: "Pobjeda Technology" Granted, Then Revoked, Approval for Production Expansion

Nermin Džindić (SBB), the FBiH Minister of Energy and Mining, along with Prime Minister Fadil Novalić, fully intends to control the defense industry and create the best conditions for their joint company after their mandates expire, claim sources from the FBiH Government for Patria, noting that Džindić and Novalić are linked by their joint company "Termo Metal Resist" (TMR).

We remind you that Nermin Džindić, as one of the founders of this company, established in April 2008, but interestingly, it has only been doing exceptionally well for the last two years, invested capital of 35,677 KM. Ada Novalić paid 95,531 KM, Munir Novalić 71,014 KM, Azra Novalić 40,709 KM, and Naida Novalić 67,571 KM. The total capital of the firm is 378,341 KM.

It is interesting that Samir Iskrić, head of Prime Minister Novalić's office, is also among the founders, and the Prime Minister's daughter, Ada, is the director.

It is widely known that Džindić does whatever he pleases with Novalić's consent, and the latest farce by this duo, with the selfless help of Ismet Briga, Džindić's advisor, was felt by the company "Pobjeda Technology" d.d. Goražde.

Namely, at the 112th session of the Government of the Federation of BiH held on July 20, 2017, based on the opinion of the Federal Ministry of Energy, Mining and Industry on the "Elaboration on the capability of the business entity Pobjeda Technology d.d. Goražde for expanding production of products and components from the ML3 group of the joint list of military equipment," the Government of Bosnia and Herzegovina granted approval for the expansion of production of non-military goods for the business entity Pobjeda Technology d.d. Goražde.

As our sources reveal, from that day until August 9, 2017, Džindić's advisor Ismet Briga allegedly did everything to withdraw such approval, which eventually happened.

At the 115th session of the Government of the Federation of BiH, the "Request for withdrawal of approval for the business entity 'Pobjeda Technology' d.d. Goražde for expanding production capacity/program with products and components defined as military equipment, with a draft text for withdrawal of approval" was considered. And the approval was withdrawn.

The Ministry did not respond to the inquiry from the Patria news agency, and we asked them what had changed from July 20 to August 9 and why the approval was withdrawn.

From "Pobjeda," however, they say they have not yet officially received any document.

"Our business entity applied with a request for expansion of production from the joint list of military equipment from the ML3 group.

Approval of this would mean an increase in production capacity and the opening of several dozen new jobs. As we have not received any official decisions from the FBiH Government to date, we are unable to provide any answers regarding this," Adnan Čengić, director of "Pobjeda Technology" d.d., told Patria.

Goražde-based company Pobjeda Technology, which produces sports and pistol ammunition for civilian use, achieved a revenue of 13.7 million KM in 2015.

A profit was also recorded, and the success is even greater considering that in 2012, total revenue reached only 3.5 million KM, and the situation particularly improved with the investment from the American company ACS AGE Holdings.

Through a transaction totaling 2.65 million KM, or 1.35 million euros on the Sarajevo Stock Exchange, ACS AGE Holdings Inc. took over majority ownership in the company Pobjeda Technology Goražde in 2015.