Five years after the end of bankruptcy proceedings, the factory “Majevica” in Srebrenik, also known as Corn Flips, is dominating among domestic producers of the-so-called snack products.
The factory has increased its turnover by more than 100 % since the year of 2013, when they successfully completed bankruptcy process until today, while they increased the number of their employees by around 50 %. Furthermore, Corn Flips became one of the most complete factories of this type in BiH, with a focus on the domestic but also on the EU and regional market.
Although the story of Corn Flips goes all the way back to 1980 as part of the economic system of Majevica, Corn Flips as it is recognizable now, can thank domestic company and retail chain Bingo for its destiny.
The company went into bankruptcy in 2004, and their debts amounted to the value of the entire factory. Two years after their bankruptcy, the company Bingo purchased majority of their shares and then started the revitalization of the company.
“We are now present on the domestic market, both in Bingo’s markets and other major retail chains, but thanks to Bingo, we managed to go to EU countries, to Serbia, Macedonia and Montenegro and we see our future there. Moreover, the fact that we are a part of the Bingo family means that we have to make constant progress, because that is a policy of Bingo and every other market. It is imperative for us to grow, invest in new equipment and innovations, and all of that with the aim to make our products affordable and competitive in the market,” noted the Director of Majevica Ltd. Srebrenik, Husnija Avdic.
A couple of years ago, they started with their potato production on a surface of about 80 hectares, and they also invested a lot into their production plant, the introduction of ISSO and HACCP standards, the procurement of lines for the production of crackers, chocolate and cream products. They also installed the latest refrigerator for about 1,000 tonnes of potatoes. Their most recognizable product is still Gold Flips.