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Uljanik shipyard selects strategic partner

Croatia’s troubled shipbuilder Uljanik has selected domestic shipyard Brodosplit as its strategic partner, the company informed the Zagreb Stock Exchange on Thursday.

Croatia’s troubled shipbuilder Uljanik has selected domestic shipyard Brodosplit as its strategic partner, the company informed the Zagreb Stock Exchange on Thursday. Uljanik said in the statement that it would conclude a contract with the partner on the arrangement of mutual rights and obligations, with the emphasis on the acceptable and viable restructuring program of Uljanik shipyard.
Croatian Minister of Economy Darko Horvat said on Thursday that according to the documents from the bidding phase, Brodosplit is solvent. He noted that it would be a serious problem if it turns out that the selected partner has no financial capacity for the restructuring of Uljanik. Uljanik is Croatia’s largest shipbuilder with two shipyards in Pula and Rijeka in the northern Adriatic. The company has financial troubles and for months it has been searching for a strategic partner that would invest in it. In 2018, Uljanik’s workers went on strike several times due to unpaid wages. They staged a protest in front of government building in the capital Zagreb, as well as protest walks in Pula.
(read more here)

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