IMT tractors for Ethiopia - Rakovac-based plant signs EUR 20 million agreement with manufacturers from Bosnia and Herzegovina

IMT Tractory Industry in Rakovica has signed an agreement on the delivery of three types of tractors to Ethiopia over the next five years. Since the famous Rakovica-based plant will need automotive parts for this big job, IMT has also signed an agreement worth about EUR 20 million (KM 40 million) with the company SOKO Transmisija from Mostar.

- In order to avoid purchasing parts via mediators or from manufacturers from China or eastern countries, which are of poorer quality, and having in mind that they know our potentials very well, people at IMT expressed readiness to cooperate with companies from Bosnia and Herzegovina - Midhat Cehajic, secretary of the BH Metal and Electric Industry Association, said yesterday in a statement for Nezavisne Novine daily newspaper.

Aside from Ethopia, IMT also has good chances to sign similar agreements with South Africa, Brazil and Egypt, which will create great opportunities for manufacturers in the region.

Mostar-based SOKO Transmisija has signed a five-year agreement on the delivery of so-called bridges and power takeoffs, which will be built in IMT tractors. Several other companies from Bosnia and Herzegovina will also take part in the production of these tractors.

Representatives of automotive parts manufacturers from BH met with the IMT management few days ago, while the meeting in Rakovica was organized by the Serbian Chamber of Commerce.

- IMT Director General Zoran Vlaisavljevic said he was ready to maximally include our companies in the production of tractor parts - Cehajic stated.

The meeting in Rakovica gathered a total of 12 companies from Bosnia and Herzegovina, including UNIS Vogosca, SOKO Transmisija Mostar, Zupcanik Tesanj, Trudbenik Doboj, Pobjeda Tesanj, Fabrika precistaca Rogatica, Cajavec-Elektromehanika Banja Luka and Cajavec FSU Laktasi.

These companies, along with several others, appeared at the Technology Fair in Belgrade, at the joint booth of the metal industry manufacturers of eight CEFTA countries. According to Cehajic, they drew a lot of attention.