Eko Medjimurje Takes Over Hittner Majority Stake, Investment Cycle Coming

Lauren Simmonds

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As Poslovni Dnevnik writes, Eko Medjimurje, the leading metal processing company in this part of Europe, recently completed the process of taking over a majority stake in the Bjelovar-based Hittner family company which deals with tractor production, according to a statement issued on Monday. The statement did not specify the value of this transaction.

The Hittner family will remain as the long-standing company’s co-owners as minority stakeholders and is launching a new development cycle with their new partner, the two companies said in a joint statement.

For the last thirty years, Eko Medjimurje has been producing parts for a wide range of machines such as cabins, tanks, consoles and finally assembled machines for large international companies, including the likes of Liebherr, Komatsu, Caterpillar, Wirtgen and Rubble Master.

The company was founded back in 1990, is headquartered in Senkovec near Cakovec close to the Hungarian border, and currently employs 420 employees with a handsome annual income of 250 million kuna.

For some time now, with the constant expansion of business and organic growth, it has been looking for a partner with whom it will achieve synergy and growth in new market segments.

Hittner is otherwise a family-owned company for the production of forestry and agricultural articulated tractors, agricultural machinery and spare parts and gears, which has turned from a craft workshop into a highly successful private company with 90 employees since 1987.

Hittner plans to excel even further over the next five years with significant investments in production processes, the development of new product types and even more employment, the statement said.

For more, make sure to check out our dedicated business section.


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