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DEPUTY PM ANNOUNCES SHIPYARDS MERGER

PULA, Aug 24 (Hina) - A 47,400-ton tanker built for the Splendour II Corporation company was launched at the Uljanik shipyard in the northern Adriatic port of Pula on Saturday. In attendance was Deputy Prime Minister Slavko Linic.
PULA, Aug 24 (Hina) - A 47,400-ton tanker built for the Splendour II Corporation company was launched at the Uljanik shipyard in the northern Adriatic port of Pula on Saturday. In attendance was Deputy Prime Minister Slavko Linic. #L# After the launch, Linic reiterated the government would clear the losses of Croatia's shipbuilding industry, which amount to 2.82 billion kuna (EUR381 million). Plans include merging Rijeka's 3. maj shipyard with Kraljevica, Brodosplit, and Brodotrogir. Linic commended the successful business of Pula's Uljanik, saying its enterprising and capable management board had secured the company's future by investing in development at the right time. The deputy PM said Uljanik would be privatised by letting workers and the management board keep 50 percent of shares and selling the rest. The government will support shipbuilding with ten percent, Linic said, adding that foreigners probably would not be interested in buying Croatian shipyards because the state subsidised them. Uljanik's next project is a 47,000-ton tanker for Lancaster Shipping. Its delivery by the end of the year will be this year's fifth for foreign clients. (hina) ha

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