HIFA OIL BUYS «TERMINAL» STEEL MILL ZENICA: NEW ACQUISITION ENSURES STABILE MARKET SUPPLY OF BIH WITH OIL

Tesanj, 20th March, 2017 - HIFA OIL buys the «Terminal» steel mill Zenica. By buying the «Terminal» HIFA OIL becomes a company for sale and distribution of oil with the biggest private terminals in Bosnia and Herzegovina, which significantly improves this company 's market position.

- The purchase of «Terminal» beside strengthening the competitive advantages of HIFA OIL, it will enable market supply safety with oil for a long-term. HIFA OIL, as a company with the biggest private terminals in the country, is now in the position to be the enabler of road and railway traffic development. Furthermore, in that way HIFA OIL contributes to the development of industry in Zenica and the whole country», says Venan Hadziselimovic executive director of HIFA OIL.

The purchase of „Terminal“ was performed by public tender, and the purchase-sale itself was done by privatisation. The under- and overground tank capacities of the „Liquid fuel terminal Zenica“ are 12.840,00 m3. Its actual state requires its upgrade , but also further investments. Everything outdated, damaged or that is not in compliance to modern technical-technological requirements shall be replaced, and those include system digitalisation in the terminal, the implementation of a heating system in the tanks where necessary due to the derivatives, solving the problem of the weighbridge, and the problem of a quality access to the terminal, etc.

- Except saving the «Terminal» from its further degradation, by putting it in use the market will get a quality and long-term derivative supply system, loading at one place in B&H of all derivatives in conditions of one modern, representative and European-way organised terminal. Putting the «Terminale» in use, solves the long-lasting status question of a significant number of employees of the steel mill Zenica Ltd. Zenica. When also think that putting the «Terminal» in use will generate a chain-development of many individual companies, which, in the end, shall contribute to a higher economic boost of the whole Zenica-Doboj region, and Bosnia and Herzegovina in total», explains Hadziselimovic. HIFA OIL is the leader in oil and oil derivatives trade in B&H, with 20% share on the domestic market of white oil derivatives, and the first in distribution of black derivatives on the domestic and the markets in the region in the field of asphalt paving in Austria, Slovenia, Croatia and other countries of the region. Together with its daugther companies EURO ROAL, EURO METALI, EURO STIL, EURO POWER, PETROBIT, BITROL Slovenia, and the German LB.Profile, HIFA OIL employs a total of 257 employees.