Azerbaijanis buying Konjuh Živinice Company?

Konjuh Zivinice nezavisne.comThe Azerbaijani investor Behnam Azad wants to buy the Furniture Factory “Konjuh” Živinice and for that purpose he already met twice with representatives of the Government of the Tuzla Canton and the administration of “Konjuh”.

Intense talks are being conducted regarding the purchase of majority share package of 51 percent, and this investor owns a factory in Cologne. Given that the Joint Stock Company “Konjuh” is consisted of 800 people, the purchase will be complex. However, the workers are optimistic.

“We believe this man is ready to buy ‘Konjuh’ and that is the only remaining thing we can cling to. In case he gives up for some reasons, we know that the worst will happen to us,” said the employee Mujo Gavranović. On the other side, President of the Employees’ Union of this factory Mevludin Trakić said that the Union will do anything necessary to help.

The Cantonal Government promised support when it comes to debts regarding taxes and contributions, as well as support in providing wood material through the Public Enterprise “Šume TK” (“Forests of the Tuzla Canton”).

“Regarding the taking over of ownership rights over the society by the strategic partner from Germany, we have been notified that 15 percent of shares have been purchased so far. Mr. Azad is coming to ‘Konjuh’ and the process of purchase of shares is to be continued. His aim is to own the majority share package of 51 percent,” explained the Prime Minister of the Tuzla Canton, Bego Gutić.

Namely, great launching of production in this factory has been announced during past years, but it never happened. Many are cautious when it comes to somewhat more significant launching of production in this factory, since the debts amount to more than 30 million BAM.


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