The Sarajevo tobacco factory (MSDS) will soon be completely shut down, and in the years before us the business of the business has been systematically destroyed, ownership fragmented, and valuable brands and real estate sold off. Cornthere are still assets.
Namely, tex-Yugoslavia’s former tobacco giant is now just a dark story in a series of dodgy privatizations, mismanagement, and planned destruction, and it was discovered by the state of debit and inventory of FDS assets, what remains of assets outside our country, as well as what was sold.
According to the inventory of goods, the MSDS had assets in Serbia, Croatia, and Slovenia. A large number of kiosks, which are listed as moveable property, have been destroyed and, by decision of the local authorities, probably ended up in a landfill, so this type of property is listed as non-returnable.
However, FDS owned many valuable properties in Belgrade, Zagreb, Ljubljana, Split, Osijek, Novi Sad, Kragujevac, Nis, Zrenjanin, Valjevo, Uzice…
What has not been sold so far is 238 square meters of a offices in Osijek, then 75 square meters of offices in Ljubljana, 149 square meters in Kragujevac, 392 square meters in Zrenjanin, 138 square meters of offices in Nis and 417 square meters of office buildings in the tobacco factories of this Serbian city .
According to Federation of BiH (FBiH) Privatization agency, FDS management sold assets worth 3.6 million BAM.
525 thousand ago BAM estimated property in Split (offices of 111 square meters and two garages), 800,000 BAMcommercial space in Zagreb (200 square meters), then office space in Novi Sad worth more than one million BAMto Uzice 190 thousand BAM worth a business space, and Valjevo (450.000 BAM), aas good as Belgrade (623.000 BAM).
Many believe that the SDF embarked on a course of no return fifteen years ago, when politics intruded deeply into business, leading to the sale of stocks through dodgy trades, culminating in to the collapse of businesses and the loss valuable assets.
During the golden age, around 3.000 workers entered through the gates of the MSDS every day, working diligently in three shifts. The factory functioned in the most difficult times during the siege of Sarajevo, but despite everything, after 142 years, it now put the key in the rusty lock for a long time.
MSDS was founded in 1880 and was one of the first four industrial enterprises in Bosnia and Herzegovina. The most famous and certainly one of the most successful products of this company are Drina cigarettes, also known as Sarajevo Drina.