After three failed sales attempts, DD Koksara Lukavac is in bankruptcy. Next week, the Bankruptcy Council will announce a new call for the sale of Koksara, but this time the sale will be made possible by segment, that is, individual factories and land plots.
The bankruptcy trustee is optimistic that the workers’ claims could be settled by the end of this year.
The initial price of 250 million KM for Koksara Lukavac was obviously too high for potential investors, so this year’s three attempts to sell Koksara as a whole failed.
The next sale, which should take place by the end of this month, envisages the sale of individual factories as well as part of the land parcels owned by Koksara.
Currently, the majority of interested parties are in the Maleic Anhydride Factory, so the bankruptcy trustee receives inquiries about this factory every day.
“That factory will definitely see better days because it is important for the European industry, for the production of paints and varnishes, in the pharmaceutical industry, the chemical industry and all other industries. After it, we have significant assets here through Energana, a factory for the production of electricity. Few people know that inside Koksara there is a factory that produced 12.5 MW.” says Almir Bajric, bankruptcy administrator of DD Koksara Lukavac.
Economists believe that the decision of the Bankruptcy Council of Koksara Lukavac to sell the factory’s assets by segments was a good decision that will accelerate the sale of the factory and enable the opening of new factories.
“It is difficult to find an investor who will be able to invest so much money, and when you divide it into several units, as is the case here, then smaller investors will be found much faster who will in fact each make their unit in the best possible way.”, says Edin Glogic, University of FINRA Tuzla.
Last week, the City of Lukavac paid Koksara 3.14 million KM for the Filter station for water purification, which is of great importance for the water supply of Lukavac. The largest part of this money will be paid to former workers by the end of the month to settle their claims.
“From the stated amount, practically somewhere around the 22nd to the 25th, we will pay over 32%, 33% of additional claims to the accounts of the workers, which will cover almost 50% of the workers’ severance pay, and we will then enter into the sale of partial units from which we will immediately make one or two more divisions and pay the workers practically 100%.”, Bajric adds.
The bankruptcy administrator believes that by the end of this year, two or three factories of Koksara Lukavac will be sold, which will open the process towards the creation of a new industrial zone in this city.
A significant advantage of Koksara in this sense is the existing infrastructure and land of about 100 hectares, and the entire zone has access to rail transport, so every new factory will have direct access to the European market by rail transport, BHRT writes.
