Zenica Toplana faces bankruptcy proceedings

The Municipal Court in Zenica is set to hold a hearing regarding a bankruptcy request filed by Toplana d.o.o. Zenica. The company's financial stability has been severely compromised following the shutdown of integral production at the Nova Željezara Zenica (NŽZ) plants.

Toplana director Haris Polutan stated that the company is owed 3.1 million KM by NŽZ, which is already in bankruptcy proceedings. The ownership of Toplana consists of NŽZ (65 percent), the City of Zenica (20 percent), and ArcelorMittal (15 percent).

The cessation of coke production at the ArcelorMittal Zenica plant in April 2024 deprived Toplana of coke gas, forcing a shift to blast furnace and natural gas. With the subsequent shutdown of integral production, the company has lost its primary revenue source, which previously accounted for 80 percent of its income.

This energy crisis has led to significant price hikes for heating services. While the City of Zenica provides subsidies, residential customers face a 35 percent increase in heating costs, while business entities will see increases of up to 106 percent.