Zenica steel plant enters bankruptcy proceedings for reorganization

The Zenica Municipal Court in Bosnia and Herzegovina has officially initiated bankruptcy proceedings for the Zenica steel plant, effective August 12, 2026. Jasmin Hadžirašidović has been appointed as the bankruptcy administrator. Creditors have 30 days to submit claims to the court and must notify the administrator of any security interests held over company assets.

Management at Nova Željezara Zenica (NŽZ) has characterized the bankruptcy not as a closure, but as a strategic reorganization intended to transform the facility into a modern industrial-logistics park. General Director Ahmed Hamzić stated that the process aims to shed long-standing financial burdens, terminate harmful contractual relationships, and establish a sustainable business model based on green energy and modern technology.

The company leadership emphasized that worker rights will be respected in accordance with existing union agreements and legal requirements. A court hearing to evaluate creditor claims and the company’s overall situation is scheduled for December 8, 2026.