BIMAL Group has successfully completed the process of taking over the traditional NOVO SUNCE edible oil factory in Sombor and thus officially became the majority owner. By purchasing the NOVO SUNCE factory, the BIMAL business group confirmed its leadership position.
“The goal of our acquisition is to consolidate and strengthen the oil industry in the Western Balkans region. Our intention is to bring the company BIMAL SUNCE to the highest technical and technological level of production, which we have in the factory for the production of edible oil BIMAL in Brčko,” said the president of the Management Board of STUDEN Group and general director of the company BIMAL, Mr. Ilija Studen.
The first steps after taking over the factory are the reconstruction of the plant, raising the production capacity and optimizing the costs. The NOVO SUNCE factory currently processes sunflower and soybean seeds, while the BIMAL factory in Brcana processes all three oilseeds, sunflower, soybean and canola. As announced by the BIMAL Group, the goal is for both factories to produce equal products of top quality from all three raw materials.
“The initial investment in the BIMAL SUN project is 40 million KM. Since the plan is to raise the production capacity from the current 100,000 tons to 180,000 tons per year, investments in the coming period will reach a total amount of 70 million KM,” said Studen.
With production in two factories, in Brčko and Sombor, the BIMAL Group will market more than 250,000 tons of semi-finished products and finished products annually to domestic markets, as well as to its traditional export markets of Turkey and the Middle East. Also, higher production capacities mean a stronger position on the European Union market, where BIMAL already exports its special products, and the full realization of export potential to the Southeast Asian market.
