State Property Minister and Italian Ambassador Talk Investments

Total Croatia News

ZAGREB, April 7, 2018 – State Property Minister Goran Marić on Friday met with Italy’s Ambassador to Croatia Adriano Chiodi Cianfanari to discuss the continuation of cooperation regarding the Cimos car parts manufacturer, particularly further investments in the company, the State Property Ministry said in a press release.

“The meeting focused on the continuation of cooperation on the Cimos project, with particular emphasis on interest expressed in further investment in the company. To date, 6 million euro has been invested in the company, and over the next two years a further 14 million euro is expected,” the press release said.

The director of the Italian TCH company and of Cimos, Gino Berti, attended the meeting as well. According to the ministry’s press release, Berti underlined that future planned investments in the company would ensure its growth and production and create new jobs.

“I exceptionally value Cimos’ work. Production is the basis of the entire economy. It is the foundation on which the economy lies. It is my wish that the planned future investments in Cimos are realised and the ministry will do its best to assist in the process,” Minister Marić said.

In 2017, Cimos was sold to TCH, a part of the Italian Palladio Holding Group, for a symbolic amount of 110,000 euro but with the obligation to repay the company’s debt of 110 million euro.

Over the past ten years, the number of employees in Cimos’ plants in Slovenia, Croatia, Bosnia and Herzegovina and Serbia was reduced from 7,000 to 4,000, 1,500 of whom are employed in Slovenia, where the company is headquartered.

At the time when they took over the company in Koper, Slovenia, the Italian owners announced that they would restructure it and reduce the number of workers.


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