"NOVOGRADNJA" CONSTRUCTION COMPANY EMPLOYEES HOLD PROTEST

ZAGREB, May 14 (Hina) - Today's protest of about a hundred "Novogradnja" construction company employees in front of the Public Works, Reconstruction and Construction Ministry building ended just after noon, following an agreement between the company's supervisory board president, Zoran Klaric, and employee representatives. Klaric, who is also the Assistant Public Works, Reconstruction and Construction Minister, promised government representatives would in the next two days decide whether the company's reorganisation plan would be accepted, or whether Novogradnja will pronounce bankruptcy. The company's debts are currently 60 million kuna (about US$7 million), of which more than a half are debts towards contractors. Meetings are scheduled with representatives of the Croatian Privatisation Fund (majority stock holder) and the City of Zagreb, who owes the company about five million kuna (approx. US$600,000) on Tuesday and Wednesday. The employees should find out about the company's future on Thursday. Novogradnja employees have been on strike since May 11, as they did not receive their minimal pay for the past four months. Today's protest was staged in order to get at least three minimal salaries. The workers have been receiving minimal salaries for more than a year to help the company survive. Since all construction works have stopped, the workers are requesting the construction sites be closed so the company's property would remain intact. (hina) lml