As Poslovni Dnevnik writes on the 24th of January, 2019, at this stage, the Croatian production company Dilj d.o.o. is set to invest significant resources in the overhaul of the plant, and the plan is to put additional resources in the next phase to raise and expand the capacity of their brick factory.
This Vinkovci-based Croatian production company is a manufacturer of brick, tile, grout and special roof elements, which exports 70 percent of its production to both European and non-European markets. Dilj d.o.o. rescued a small brick factory from Našice, which was in the process of going into liquidation. In the very process of bankruptcy, the move saw it successfully renew its production.
In addition to saving production, they saved fifty grateful employees from certain job losses, which would have meant that nearly fifty families would have been left without income. The director of Dilja d.o.o. Dražen Ivezić recalls that the Slavko IGM Našice brick factory went into bankruptcy at the end of 2014 due to problems that were the result of the crisis, which was felt the most by the construction sector, and as material producers, they were hit hard.
As Glas Slavonije writes, at the time of bankruptcy, about fifty workers were employed at the plant, manufacturing a production line of about fifty million units of normal sized and more than ten million block bricks.
The Croatian production company asked the bankruptcy trustee to take over the factory, hire the current workers and continue on with production, and got approval from the creditor council for that step.
”On May the 18th, 2015, we signed a lease contract and continued production. After less than a month and a half, as soon as July the 1st, production continued and everything went smoothly.
Production continued over the next three years, and at the end of last year, Dilj d.o.o. proposed to the bankruptcy trustee and the creditor council to complete the bankruptcy proceedings with the creditor settlement and to take over Slavonia’s IGM. After the creditors accepted the bankruptcy plan, in late 2018 Slavonia IGM formally went bankrupt, meaning the preservation of production with a long tradition, as well as the preservation of jobs in the processing industry in Slavonia, which is of particular significance,” stated Dražen Ivezić, the director of the largest tile factory in the Republic of Croatia with a 95-year-long line tradition of production, unbroken even during various wars.
He added that after the winter renovation phase, the plan for Slavonia’s IGM is to be at full capacity by the end of this year, and they are planning to sell everything they produce.
Stay up to date with everything you need to know about doing business in Croatia, the economy, the job situation and the investment climate by following our dedicated business page.