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Bosnian entrepreneur receives EBRD support
EUR1 million equity investment helps Primus expand
Primus, a privately owned PVC, aluminium joinery and wooden elements producer in Bosnia and Herzegovina (BiH), which also offers construction services, expects to overcome a number of bottlenecks to future growth following an equity investment of up to €1 million by the EBRD.
The Bank’s overall stake of up to 45 per cent is being acquired under its Direct Investment Facility (DIF), which makes investments in small and medium-sized private-sector businesses across its countries of operation. The bulk of the finance will help Primus purchase additional machinery to boost production of laminate wooden elements, increase drying capacity, and help acquire land to increase storage space.
Aygen Yayikoglu, Head of the EBRD’s office in Bosnia and Herzegovina, said DIF was designed specifically to support successful local enterprises such as Primus through investment, enhancing the emergence of a more dynamic and broader-based private sector. This is the Bank’s first DIF project in Bosnia and Herzegovina, helping one entrepreneur expand his business. The EBRD stands ready to support more such businesses, said Mr Yayikoglu.
Established in 1995, Primus is a successful local company establishing itself as a leading provider of fenestration and construction services on the local market. Based in Maglaj, in central BiH, the company employs around 130 staff in its headquarters, as well as in its branch office and exhibition hall in Sarajevo.
Nesib Serhatlic, founder and owner of Primus, said: “The EBRD’s investment has come at a time when we have important expansion plans for our company. The Bank’s investment will help Primus grow by increasing our product range, profitability and sales on domestic and neighbouring foreign markets.”
The EBRD is one of the largest investors in BiH, having approved more than €262 million for 35 projects across the country.
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