In an effort to develop the country’s textile industry, the Bosnian government plans to expand the capacity of Novoteks, which it recently acquired for €1.6m. The state plans to boost the textile company’s staff by 100 employees, Industry Minister Petar Djokic said. The government did not provide information about the company’s current lessee, but said it planned to work closely with the lessee to expand capacity. Bankruptcy proceedings against Novoteks were launched in 2011. The company’s debts exceeded BAM 60m.
