VUKOVAR, Nov 7 (Hina) - Before the end of the year the Vukovar-based Borovo company will found a daughter company in Montenegro and take over 15 of its former stores, and by spring next year a further 19 stores in Macedonia where it
will also found another daughter company, the footwear manufacturer reported on Thursday.
VUKOVAR, Nov 7 (Hina) - Before the end of the year the Vukovar-based
Borovo company will found a daughter company in Montenegro and take
over 15 of its former stores, and by spring next year a further 19
stores in Macedonia where it will also found another daughter
company, the footwear manufacturer reported on Thursday. #L#
There were 615 outlets belonging to Borovo in the former Yugoslavia
of which two-thirds were registered as owned by the Croatian
company. During the Serbian aggression against Croatia, Borovo
experienced over 300 million euros in damage and was left without
its stores in all the republics of the former Yugoslavia.
There are 115 Borovo stores just in Serbia. A production plant in
Sombor is currently in operation under the name of "Borelli" and
employs abut 1,700. It is run by the former board of Borovo, Serb
nationals who fled Croatia during the war. It is expected that all
property belonging to Borovo should be returned to the parent
company within one year. Borovo has managed to recover all its
stores in Slovenia.
Of the 22,500 employees prior to the war today there is a total of
1,200 currently employed in 12 daughter companies of Borovo, with a
total revenue last year of 35 million euros.
(hina) sp/ha sb