In addition to Brodotrogir, he will control both the Uljanik and Treći Maj shipyards.
The supervisory board of the Uljanik shipyard from Pula named Danko Končar as its strategic partner yesterday. This will make Končar a new majority owner of Uljanik after the recapitalisation process in concluded, reports Jutarnji List on March 29, 2018.
Danko Končar, who is the owner of the Kermas Group, said that “he would like to thank the supervisory board, management and the unions for the decision to choose Kermas Energy as a strategic partner in recapitalisation and restructuring of Uljanik. We will try to justify the confidence in the shortest possible time. With Uljanik, the Treći May shipyard from Rijeka and Brodotrogir, which will be part of Kermas, we believe that Croatian shipyards will again become important players in the European shipbuilding industry. We also want to point out that the government will play a critical role in this process, with the announced establishment of a guarantee funds for shipbuilding being the most serious contribution to this industry so far,” concluded Končar, adding that the contribution of the Croatian Bank for Reconstruction and Development (HBOR) and the European Investment Bank will also be significant.
In addition to Končar, the bids for recapitalisation were sent by Asian Bond Ventures from Hong Kong and DIV Group from Samobor, which owns the Split shipyard.
“Kermas Energy’s offer is substantially closer to the key elements and strategic objectives of the restructuring programme, according to criteria and principles agreed with all involved stakeholders, which implies immediate implementation of the restructuring process without additional conditions and requirements, in the context of short liquidity deadlines,” said the shipyard, explaining why they had chosen Končar.
Tomislav Debeljak, the owner of DIV Group and the Brodosplit shipyard, said that his company had offered 302 million kuna for the recapitalisation of Uljanik and 380 million kuna for the recapitalization of Treći Maj, which is owned by Uljanik.
The Croatian Metal Workers Union is satisfied with the selection of a new strategic partner, but they are still concerned about Končar. “I am glad that the problem of a strategic partner has been solved relatively quickly, but I have to express concern about Brodotrogir, where Končar is already the owner, and things are not going well there. I would like for Končar to focus more on shipbuilding. The unions will have an opportunity to meet with him and discuss everything,” said trade union leader Vedran Dragičević.
Boris Cerovac of the Adriatic Trade Union, which is also active in Uljanik, is disappointed with the selection of Končar. “First of all, I expected more strategic partners to apply, so I am disappointed with their interest. We expected that they would accept an offer from someone who was dealing only with shipbuilding, while Končar is also involved in tourism. We are a little scared about what will happen with workers because in Brodotrogir wages have been cut and the number of employees is expected to be reduced. I am afraid we will meet the same fate,” said Cerovac.
Given that the government has given Uljanik a loan guarantee, it would be proper for citizens to be informed about what Končar has offered in his bid and how much money he would invest in the company. Also, other proposals should be revealed so that a comparison could be made. Uljanik is a mostly privately-owned company, but the state’s loan guarantee and its 22 percent stake in ownership mean that taxpayers have the right to know this information.
Translated from Jutarnji List (reported by Barbara Ban, Frenki Laušić, Jasmina Trstenjak).
