The struggling explosives factory Vitezit from Vitez in central Bosnia has been purchased by a company from Croatia for the price of 5.5 million euros, as announced by the company, while local media report that it is WDG promet from Zagreb, owned by Matias Zubak.
The bankruptcy administrator of Vitezit, Bahrina Huseinbegović, stated that a company from Croatia purchased the assets of Vitezit at a public auction held in the court in Travnik. She refused to disclose which company it was.
An international tender for the sale of the factory had previously been announced, in which the best offer came from the Croatian company.
According to the Viteski portal, the assets of Vitezit, valued at 5.5 million euros, were purchased by WDG promet, owned by Matias Zubak, the son of arms dealer Zvonko Zubak.
Last year, Zubak’s company was also declared the winner of the tender for the purchase of Vitezit, but ultimately did not pay the required amount.
The company that has now confirmed its readiness to purchase Vitezit has reportedly already paid a 10 percent deposit, while the remainder is expected to be paid within the next 15 days.
The Vitezit business complex was built in 1950 as part of the military defense industry of former Yugoslavia. This company produced various types of explosives – nitroglycerin, plastic explosives, and within the complex, the Croatian company became the owner of the testing ground, machinery and facilities, warehouses, and other premises of the struggling Vitezit.
