Germans Purchase Zagreb Company

Lauren Simmonds

The company has more than 800 employees and has now undergone a name change.

As Sergej Novosel Vuckovic writes on the 6th of September, 2018, the Zagreb-based firm has employed 130 people in the last year alone, and currently there are more than 800 people working there.

The Zagreb company Elektro-Kontakt d.d., otherwise the leading Croatian and regional manufacturer of household appliance parts, is no longer known by that name, but by the name E.G.O. Elektro-komponente d.o.o.

The reason for the name change has come with company falling under ownership consolidation from the German E.G.O. Group, which, since September the 1st this year, is the sole owner of Elektro-Kontakt.

Since entering the Zagreb factory back in 1992, the Germans, as the majority shareholders, purchased other stocks in order to reach the 100 percent they’re now at. Domagoj Matasic, the head of management, noted that by taking over the obligations and contracts of the Zagreb-based company, the company can continue on with its successful business relationship and good relations with its current partners. The Germans are also satisfied with the way things have been and are continuing to go.

“As the sole shareholder(s), we can have more flexibility in the interests of our customers and employees,” says E.G.O. Group’s CEO Johannes Haupt. The whole group operates in sixteen countries and has 6,000 workers, with very handsome revenues of 609 million euro.

When it comes to household appliances, heating and control components for cooking, baking, washing, and drying are made here, with medical and construction technology and parts for the auto industry also being developed.

The company in Zagreb employed 130 people in the last year alone, and now more than 800 employees are involved in the production of thermostats, switches, regulators and other types of components for installation.

Almost everything the company produces ends up being exported abroad, which has cemented the company’s position as one of the largest Croatian exporters. According to reports, company revenues stood at almost 400 million kuna last year.

For more than 25 years by the end of 2011, Elektro-Kontakt was led by Vladimir Ferdelji.


Click here for the original article by Sergej Novosel Vuckovic for Poslovni Dnevnik


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