Prevent wants to buy the Prijepolje Foundry of FAP as well

The management of Prevent BH visited the Municipality of Prijepolje, where they met with the President of the Municipality Emir Hašimbegović, Deputy Prime Minister and Minister of Trade, Tourism and Telecommunications Rasim Ljajić, Director of the Priboj Automobile Factory (FAP) Zoran Zaković, and Director of FAP Foundry with upgrades Željko Ružić, it was announced by the company “Prevent“, reports the BiH news agency Patria (NAP).

The topic of discussion was the privatization process of the Prijepolje “Foundry“, for which Prevent has submitted a letter of intent.

- Prevent has been in active contact with the competent institutions of the Republic of Serbia for over a year regarding investment in FAP Foundry – the statement from Prevent management reads.

- With today's visit, we want to send a clear message once again that Prevent has serious plans for investing in the metal and car upholstery segment. Prevent is more than ready to build partnerships and actively cooperate to conclude this investment to mutual satisfaction. We expect the same from the competent institutions, and today we confirmed mutual understanding and received assurances from all present parties that this investment issue will be resolved as soon as possible - stated Čazim Hamzić, member of the Management Board of Prevent BH, adding that after taking over FAP Foundry, they would retain the current production program and take over the existing employees, and open new jobs.

According to Haris Rahman, member of the Management Board of Prevent BH, the same company is part of the global corporation “Prevent“, headquartered in Germany, which operates on three continents and employs over 11,000 people.

- In Bosnia and Herzegovina, Prevent opened its production facilities in 1999, and today, after 15 years of successful business, it has over 5,000 employees, is the leading BiH exporter, a leader in the production of automotive seat covers, leather, and textiles, a partner to renowned global car manufacturers, and a producer of brake discs, protective equipment, and other automotive components - added Rahman.

FAP Foundry in Prijepolje is a business entity with a tradition in the production of automotive components spanning over 50 years, founded by FAP Corporation A.D. Priboj, and is currently undergoing privatization.

- FAP Foundry needs a strategic investor who, through a serious investment program, will provide new machinery and equipment, expand the production program, and create conditions for new jobs. We expect that in a transparent privatization process, in accordance with legal procedures, and in the shortest possible time, FAP Foundry Prijepolje will get such an investor - stated Željko Ružić, Director of FAP Foundry with upgrades.

Rasim Ljajić, Deputy Prime Minister and Minister of Trade, Tourism and Telecommunications, pointed out that Prevent BH is ready to invest 11 million euros and take over the currently employed 112 workers, and additionally employ 400 more people, with production linked to the metal sector and the automotive industry.

Serbia has been experiencing an increase in unemployment for several years, which has particularly affected municipalities where industry constituted a significant part of the economy, including the municipality of Prijepolje itself.

The President of the Municipality, Emir Hašimbegović, says that since the late eighties, the municipality has lost 10,000 jobs. Unsuccessful privatization of state-owned and socially-owned enterprises has also contributed to high unemployment.

- Successful privatization of FAP Foundry would solve the unemployment problem in this municipality in the long term, and the local self-government will provide full support to interested companies, including Prevent, within its jurisdiction - says Hašimbegović.

He also emphasizes that the Municipality of Prijepolje will continue to be a good interlocutor between interested investors and relevant ministries in order to promote the economic development of the municipality.

- The local self-government has prepared all the necessary documentation at the request of the Prevent group and thus created the conditions for building good relations with a partner from BiH and showed readiness for cooperation with all other potential business partners who have recognized the municipality of Prijepolje as a good place for investment – concluded Hašimbegović, reports NAP.