Maribor, 27 September (STA) - Foundry Mariborska livarna Maribor (MLM) opened in Bosnia-Herzegovina on Monday its new plant for the production of aluminium pressure casts for car parts. The company invested EUR 7.5m in the acquisition of the plant and the setting up of the cast production line for the European car industry, according to MLM's press release.
The MLM's subsidiary in Bogojno (central Bosnia), which will employ over 100 people at least until 2015, was opened by MLM chairman Branko Zerdoner, Mustafa Mujezinovic, the prime minister of the Federation of Bosnia-Herzegovina, and Bugojna Mayor Hasan Ajkunic.
The press release further reads that the MLM managed to get through the crisis of the car industry with a well-planed strategy and an intensive development of its products, and even consolidated its position with strategic partners.
The decision to expand production to Bosnia-Herzegovina was based on the country's good development potentials and conditions for foreign investors.