German owners of Mann + Hummel company that is also present in the city of Tesanj, purchased the remaining shares of companies that were not owned by them.
On September 10th, the Sarajevo Stock Exchange purchased 1.7 percent of shares for 1.2 million BAM. The trade was conducted at an average value of 125 BAM per share.
From the previously stated, it is concluded that Germany company share climbed from 94 percent to about 96 percent, and it is likely that the Germans are going to a full taking of this company from Tesanj.
According to statistics, the market value of the company amounts to 68 million BAM.
Mann + Hummel BH is the daughter of the German giant company and is considered to be one of the most successful privatizations in BiH.
Manufacturer of filters and components for automotive industry, MANN+HUMMEL BA company from Tesanj is operating positively for years and every year it achieves a growth in production and profit, which is supported by the fact that the company finished the business 2014 year with the profit of 4.08 million BAM.
As Mahmut Galijasevic, director of the company said, from 2005 MANN+HUMMEL BA records good business results and growth that has stagnated only in 2008 and 2009, i.e. in years of the world economic crisis that affected this company as well.
“However, from 2010 we again recorded a growth, and in the last year sales increased by 8% and the profit of 4.08 million BAM was achieved. So, in this year as well we expect the sales growth by 10%, which will result in a good profit for us, as we believe“, emphasized Galijasevic.
When it comes to new products, according to his words, company is struggling to introduce new products every year.
Accordingly, MANN+HUMMEL BA in this year plans to work a project of air filters for the first installation to Ford, which will be placed in the next year.
“Ford is a new customer for us and we are very pleased that we face to new customers and introduce novelties. Namely, until now MANN+HUMMEL BA has traditionally been faced to Volkswagen, but to other manufacturers as well and transport vehicles such as Mercedes Benz and others“, said Galijasevic.
“Percent of our export is around 93% compared to the total sales, only 7% of the sales finish at the BH market, which is logical since we cannot record the sales growth that we record every year only with the market that we have in BiH, which is small“, emphasized Galijasevic.
Otherwise, MANN+HUMMEL BA currently has 561 employees, and they plan to reach the number of 588 employees in this year, which, according to Galijasevic’s words depends on how the sales will develop.