BRATISLAVA, May 30 (Hina/APA) - The Slovak steel producer "Podbrezova" wants to buy the Sisak Ironworks and CEO Vladimir Sotak has already started negotiations with Croatian government representatives about the privatisation of the
ailing Croatian company, the Slovak daily "Hospodarske noviny" has reported.
BRATISLAVA, May 30 (Hina/APA) - The Slovak steel producer
"Podbrezova" wants to buy the Sisak Ironworks and CEO Vladimir Sotak has
already started negotiations with Croatian government representatives about the
privatisation of the ailing Croatian company, the Slovak daily "Hospodarske
noviny" has reported. The Slovak company had earlier shown interest
in taking over the Sisak Ironworks but it failed to persuade Zagreb to accept
its plan for the development of the plant, which envisaged a reduction in
labour force from 1,700 to 400 workers.
In 2003 the Sisak Ironworks was taken over by the Russian company
Mechel, but the company withdrew in 2004 despite having invested two million
euros in the plant.
The Croatian company went bankrupt due to a high debt and an excessive
number of workers.