Pana Launches New Investment in Turopolje
Pana, a wood processing company from Čakovec, started a project with the Austrian company Weitzer Parkett, investing a total of EUR 10 million into the facility in Turopolje it recently acquired, to purchase new technology enabling it to expand its production range. […]
18.04.2018 Read More
EC to Approve Uljanik Restructuring
One of Croatia’s largest shipyards, Uljanik, and the owner of Kermas Energy Mr Danko Končar, whose offer for restructuring of the Pula giant was accepted by the Minsitry of Economy two weeks ago, are about to submit the first draft of a restructuring proposal to the Ministry of Economy. Uljanik’s assembly requested that any offers for restructuring include capital increase between Kn 182 to Kn 302 million. It is unclear just how much Mr Končar’s company proposes to invest. […]
16.04.2018 Read More
GfK Croatia to Cut Down Operations from 2019
GfK Croatia, a member of the GfK Group and one of the largest market surveyors in Croatia, will reduce its offering from 2019 onwards. After the American KKR investment fund bought the parent group GfK Group, it decided to reduce the number of countries in which the agency operates. This means that the company’s global operations will concentrate on specialized services, and changes in Croatia and the Adriatic region are a consequence of this change. […]
07.03.2018 Read More
Textile Industry Results 2002-2016
Fina published results for textile industry for the period from 2002-2016, showing that some things have changed while others stayed more or less the same. In 2002, there were 255 companies in textiles, and in 2016 there were 279. In 2002, total revenue for all of them was Kn 1.59 billion, and in 2016 somewhat less at Kn 1.55 billion. However, the number of profitable companies grew significantly –only 166 companies ended the 2002 in the black, while in 2016 there were 206 companies making a profit. […]
07.03.2018 Read More
INA Hits Record Results for 2017
Mr Zoltan Aldott, Chairman of the Board for INA, presented the company’s results this Tuesday calling them among the best in the history of INA, and reminding that the Sisak Refinery continues to be a burden on the company.
INA Group revenue in 2017 came up to Kn 18.5 billion, 20% up from the year before. This seems to be primarily due to increase in oil prices and internal optimization. This pushed up INA’s net profit up to Kn 1.22 billion, compared to the meagre Kn 101 million in 2016. The EBITDA was Kn 3.2 billion, 52% up from the year before. Net debt was reduced to Kn 1.39 billion, pushing the debt to capital ratio down to 10.8%. […]
20.02.2018 Read More
Đuro Đaković Gets a New MOD Contract
Đuro Đaković Special Vehicles, a part of the Đuro Đaković Group, concluded a new contract with the Ministry of Defence worth Kn 10 million. The contract covers revision of M84 tanks. The tanks to be revised will be delivered in the last quarter of 2018. The company stated that this contract provides continuity in providing general revision of tanks of the Croatian Armed Forces. […]
07.02.2018 Read More
Uljanik Finds a Potential Partner
Uljanik shipyard from Pula announced today that it had received a letter of intent from a potential strategic partner Kermas Energija d.o.o. Zagreb for its restructuring and diversification program. […]
12.12.2017 Read More
Construction Orders Up
The total value of all construction works in Croatia conducted by companies with 20 or more employees rose by 1.2% in the third quarter of 2017. Total value of new orders is also up, by 5.8%, according to the State Statistics Bureau. […]
11.12.2017 Read More
New Law on Consumer Protection Comes Into Force on 07 December
The law bans unfair competition in food production, processing and distribution, and regulates subjects in all of the stages, including the primary producers, the wholesale buyers, the processing industry and the retail.
For instance, the law aims to prevent misuse of dominant position in negotiations and market relations, it sanctions imposition and transfer of costs, unfair charges for non-existent services, unjustified termination of contracts and other problems. […]
06.12.2017 Read More
Zadar Breaks November Records
Zadar Tourism Board started its Advent project several years ago, and it seems to be paying off. Last November, Zadar recorded 11,000 visits and 21,000 stays. This year, 16,000 visitors came to the city and stayed for a total of 30,000 nights, for an increase of over forty percent.
The program will continue in December and is expected to result in similar numbers, in particular as the City is planning a special Christmas celebration and a 3-day celebration of the New Year.
01.12.2017 Read More