> ## Content Index
> Fetch the complete content index at: https://www.adriadefense.com/llms.txt
> Use this file to discover other available public pages before exploring further.

# Bosnia’s Leading Ammunition Producer “Igman” Faces Comprehensive Audit Amid Operational Crisis
- URL: https://www.adriadefense.com/bosnias-leading-ammunition-producer-igman-faces-comprehensive-audit-amid-operational-crisis/
- Published: 2025-09-21T11:20:00.000Z
- Updated: 2025-10-01T19:41:17.000Z
- Description: The ongoing crisis at Igman d.d. Konjic, one of Bosnia and Herzegovina’s key ammunition manufacturers, is entering a decisive phase.
- Author: AdriaDefense Desk
- Tags: Bosnia and Herzegovina, #vedran lekic, gunpowder, Industry, ammunition factory

The ongoing crisis at **Igman d.d. Konjic**, one of Bosnia and Herzegovina’s key ammunition manufacturers, is entering a decisive phase. The company’s **Supervisory Board** has scheduled an **extraordinary shareholders’ assembly** for **October 1, 2025**, at 10:00 a.m., where the main agenda item will be the **appointment of an independent external auditor** to conduct a **comprehensive financial and operational review** covering the period **2021–2024**.

This move is part of a **broader government-led initiative** aimed at restoring confidence and transparency across the **defense industry sector** in the **Federation of Bosnia and Herzegovina (FBiH)**. The **Ministry of Energy, Mining and Industry** previously announced plans for in-depth audits across all state-owned defense companies to identify irregularities and improve governance.

According to Minister **Vedran Lakić**, these audits are designed to shed light on previously unexamined areas of company management and accountability:

> “The extraordinary audit will allow us to examine everything that was previously overlooked. No one will be exempt or protected. Only through truth and responsibility can we ensure stability and trust in such a strategic sector as the defense industry,” Lakić stated earlier.

The decision signals the government’s intent to demonstrate that **Igman** and other state-owned arms manufacturers are prepared to embrace **transparent operations** and pursue **long-term stability** in a sector critical to national security.

---

### **Production Halt Highlights Supply Chain Vulnerabilities**

The announcement comes shortly after **Igman completely halted production** in early **September 2025**, following **Serbia’s temporary export ban on gunpowder**—a key raw material for ammunition manufacturing.

For years, Igman relied almost exclusively on supplies from **Barutana Lučani**, a Serbian propellant factory. The recent embargo exposed this dependency as a **major strategic vulnerability**. As a result, the company sent all employees on **mandatory collective leave** starting **September 2**, while production facilities remain idle pending new supply agreements.

This is the **second production stoppage** in just a few months due to the same issue. Analysts argue the company should have **diversified its supply chain** earlier to avoid complete operational paralysis.

---

### **Financial Performance Under Severe Pressure**

The production halt adds further strain to **Igman’s already deteriorating financial position**. In the **first half of 2025**, the company reported a **loss of 19.8 million BAM**, while **revenues fell** by **24.3 million BAM**, dropping from **89.3 million** to **65 million BAM** year-over-year.

These figures underscore the **urgent need for restructuring and strategic reforms**, both internally and across Bosnia’s broader defense manufacturing ecosystem.

---

### **Strategic Sector at a Crossroads**

With a growing emphasis on **self-sufficiency** in ammunition production across Europe, **Bosnia’s defense industry** faces critical decisions. The outcome of Igman’s upcoming audit could shape not only its future but also the **credibility and competitiveness** of the country’s entire **state-owned defense sector** in a rapidly evolving geopolitical landscape.