D.D. NATRON MAGLAJ (Bosnia and Herzegovina)

Bosnia's paper producer Natron, established in 1956, was the biggest producer of pulp, cardboard products and commercial packaging in the former Yugoslavia but suffered heavy damages during the 1992-95 civil war and has produced only paper since.
It produced 64,084 tonnes of paper and paper products in 2004, up 17.7% from 2003.
The company, based in the central town of Maglaj, posted sales of KM 30.4 million in 2004, up 10% from the previous year.
In February 2005, Kastamonu Entegre, unit of Turkey's Hayat holding group, formed a joint venture with Natron, paying KM 14 million for a 70% stake in the new firm, which is called Natron Hayat.
The Turkish company outbid the Austrian consortium AHW, comprising Raiffeisen Investment, SAPP and Drawa Trading, to enter the joint venture with Natron.
Under the agreement, Natron will invest KM 6.0 million in the new company, while Kastamonu Entegre will pay EUR 21 million for the recovery and upgrade of its pulp production in the next two years.
The new company plans to reach an annual production of 70,000 tonnes of pulp and 110,000 tonnes of paper by 2007.
Natron Hayat, which plans to boost its workforce by 150 people by 2007, is also considering to launch production of panel boards in the next few years.