Standard a.d. (Bosnia and Herzegovina)

Standard a.d. is a furniture manufacturer located in Prnjavor, Bosnia and Herzegovina. The company was founded in 1943 and has a long-standing tradition in the industry. Initially, as part of SOUR Šipad, Standard primarily produced school furniture until 1985. They then shifted their focus to manufacturing household furniture made from mixed materials until 2000. With impeccable quality and successful design, Standard grew in the 1980s to become a factory with 300 employees, selling their products both domestically and internationally. From 1990 to 1995, the company operated at a reduced capacity. In 2000, Standard began collaborating with the Swedish company IKEA, starting with 90 employees. That same year, Standard was registered as a joint-stock company, a prerequisite for share sales. During 2004, the Swiss company Daccomet AG from Zurich initiated the privatization process and currently owns 84.5% of the company's shares. State funds hold 14.6%, and small shareholders hold 0.9% of the shares. After the majority of Standard's shares were acquired by Daccomet AG, three investment cycles were implemented to improve quality and increase capacity through equipment, facilities, and employee training. Currently, Standard employs over 300 workers and has started its fourth investment cycle. In addition to technological and organizational improvements, Standard has made significant efforts in environmental protection, recognizing its importance for successful and modern business operations. They have invested in a modern, compact, and portable device for biological-aerobic wastewater treatment called Biorotori Tehnix, aiming to preserve natural water resources. Standard operates in accordance with IKEA's requirements, with the IWAY standard being one of the strictest environmental and social standards. The IWAY standard sets minimum requirements for environmental, social, and working conditions when sourcing products, goods, and services. The company is currently in the process of implementing ISO 50001 for energy efficiency. Sustainable development in their business will enable them to ensure long-term access to key raw materials, strengthen competitiveness, and increase productivity. Additionally, it will help them stay ahead of potential future competitors in the market.