As the majority owner of “Cosmos” Banja Luka, the government of Republika Srpska has given the green light to American company “Howell Machine Technologies” to form a joint venture with “Cosmos”.
This won’t lead to a change of management, nor the companies privatization, confirmed the Trade Union of Metal Industries and Mining.
The plan is for Cosmos to produce parts of a wide spectrum of arms for this U.S. company.
Dragan Ilic, Director of “Cosmos “, said that this job offer is very welcome because “Cosmos” is currently fighting to secure new partners after losing the Libyan market.
He noted that the current arrangement with „Howell“ is to provide them with an empty hall for their technology, whilst “Cosmos” will provide the workforce.
Before the war “Cosmos” employed 1,500 workers, now it employs only 250.