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TLM supervisory board decides on revocation of deals with Viator&Vektor

ZAGREB, Sept 9 (Hina) - The supervisory board of the Light MetalFactory (TLM) in the Croatian coastal city of Sibenik has unanimouslydecided to annul by agreement two contracts concluded with the SloveneViator&Vektor branch in Zagreb on the sale of the factory's realestate and vehicles of the plant's transport unit as well as onthree-year business cooperation in transport operations, the CroatianEconomy Ministry stated on Friday.
ZAGREB, Sept 9 (Hina) - The supervisory board of the Light Metal Factory (TLM) in the Croatian coastal city of Sibenik has unanimously decided to annul by agreement two contracts concluded with the Slovene Viator&Vektor branch in Zagreb on the sale of the factory's real estate and vehicles of the plant's transport unit as well as on three-year business cooperation in transport operations, the Croatian Economy Ministry stated on Friday.

The supervisory board also decided today to invite new tenders for the purchase of the TLM transport unit.

It bound the managing board to reach agreement with the Slovene company on the revocation of the two contracts.

The TLM supervisory board's chairman, Petar Tolic, who is an assistant economy minister, told Hina today that he hoped that Viator&Vektor would accept the agreed revocation of the contracts.

The director of the Viator&Vektor Zagreb company, Ivan Vidakovic, said later on Friday that the supervisory board of the Viator&Vektor firm would convene next week to decide whether the annulment of the agreements would be carried out by agreement or unilaterally.

Vidakovic said the company would insist on being given back 825,000 kuna which it so far paid for the purchase of the TLM real estate.

The controversial 1.6-million-kuna contract on the purchase of the real estate of the Sibenik factory was severely criticised by local hauliers who blocked the main entrance to the plant last week saying they feared that they would lose their jobs.

On Friday, the local hauliers welcomed the decision of the TLM supervisory board to annul the contracts.

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