On this day 2 years ago, by purchasing majority of interest, AS GROUP acquired Klas Ltd. Sarajevo.
“In the past 2 years, we managed to increase the income of Klas by almost 50 %. We took over Klas at the time when the company had about 55 million BAM in annual revenues, and we recorded revenue of about 81 million BAM in 2015. After the successful consolidation of Klas, we are currently in the phase of introducing effective corporate governance on the level of the group, innovation, and launching new products. Potential of Klas and its brands such as Zlatni puder, Bosanski lokum, Sarko, Somun, Jufka, pasta, pie, baqlava, halva, Fit, Frozen fruits and others are amazing. Our job is to put this potential in further growth and development of the BiH food industry with the longest tradition,” said Rusmir Hrvic, Director of Klas Sarajevo.
At the time of acquisition, Klas had 900 employees, today there are 940 of them, with a tendency of further growth, and a program of cooperation with subcontractors has been started from zero, so that 900 subcontractors together with their families are working for Klas now. Total annual production capacities of Klas are 140,000 tons of food, which makes this company one of the reputable manufacturers and brands in this part of Europe.
“With the largest flour mill, large capacity of storage of grains, fully automated bakery, excellent breeding program, purchase and processing of raspberries and other berries, and the other segments of production as well, it is clear that Klas may formally belong to the sector of the intended industry, but it is very important, if not even more important for BiH. That was showed throughout the history of Klas many times, and the most recent example were the floods that happen in 2014, when Klas played an important role of stabilizer and protector of the market with its stocks of wheat, with a safe and regular distribution of flour and bread in all parts of the country where it was needed,” added Hrvic.
“Support that Klas gets from our domestic and abroad customers and consumers is huge and on this occasion I would like to thank all of them, employees, suppliers and closest associates on this great work that we managed to do together, because without them this success would not be possible,” said Hrvic on the occasion of marking 2 years since the acquisition of Klas.
(Source: novovrijeme.ba)
