SARAJEVO, 15 July 2020 – Selzer Automotive, ASA Group, and Olympia Capital Partners signed a cooperation agreement to invest in a new state-of-the-art factory to produce components for hybrid vehicle transmission systems for the EU market. Once fully operational in 2021, the investment is expected to create over 300 direct jobs in the Sarajevo region. With a transaction value of over EUR 50 million, the investment represents one of the largest foreign direct investments in Bosnia and Herzegovina and the broader region in 2020.

“We are pleased to officially confirm the cooperation with Selzer Group, which has decided to invest in BiH, and has chosen the ASA Group as a trusted partner. This is yet further proof of ASA Group’s commitment in strengthening the BiH economy through an entrepreneurial vision, while providing superior service and quality infrastructure,” said Eldin Hadziselimovic, CEO of the ASA Group. The Selzer Group will soon be celebrating its 100th anniversary, and in 2020 signed an exclusive contract with a major OEM in Europe, confirming its leading position in the production of components for hybrid vehicle transmission systems.

“We chose Bosnia and Herzegovina as a new member of our family because of its well-known industrial culture, proximity to the European Union and the macroeconomic and currency stability that is expected to continue over the coming years. The production plant’s proximity to Sarajevo was an important consideration for the Selzer Group due to its access to qualified and highly educated staff who will have the opportunity to engage with the most innovative technologies in the automotive industry. We are greatly encouraged by the to date experience in Bosnia and Herzegovina, and we believe that we will achieve all planned objectives of this strategic investment for the Selzer Group,” added Lutz Henkel, Chairman of the Board of the Selzer Group.

Dr. Ing. Markus Schiffman, Member of the Board of the Selzer Group, pointed out the importance of this investment for the Group and added, “Cooperation with Olympia Capital Partners and ASA Group, was crucial for the decision to launch this investment. We believe in the strength of Bosnia and Herzegovina as a manufacturing location and look forward to the further development of the local supply chain.”

Nedim Music, CEO of Olympia Capital Partners and the Selzer Group’s lead investment advisor on the transaction continued, “Selzer’s new plant will be one of the largest foreign direct investments in the automotive industry in BiH and the region. We are proud to have worked with Selzer and ASA to realize an investment of over EUR 50 million in innovative technology that will lead to the creation of over 300 direct jobs. This is especially exciting for the region when taking into account the social and economic difficulties posed by the COVID-19 pandemic.”