FOREIGN INVESTORS INVEST IN VIKTOR LENAC SHIPYARD

RIJEKA, Feb 23 (Hina) - Croatian shipyard Viktor Lenac will increase its stock capital by close to US$9 million by investments of well-known foreign investors. Viktor Lenac is the only shipyard in Croatia that has been entirely privatised, and is the only metal company whose stocks are placed on the Zagreb Stock Market. Investments of the International Finance Corporation from the United States, the Deutsche Investitions from Germany and Raiffeisenbank from Austria increased the stock capital of Viktor Lenac which now amounts to US$22.7 million, Viktor Lenac officials told a press conference in the northern Adriatic city of Rijeka. Viktor Lenac will, under extremely low conditions, offer stocks from the new package to its employees. Viktor Lenac main director Damir Vrhovnik stressed it was extremely important that the shipyard entered competition by recapitalisation which included technological improvement. He assessed that also important are possibilities of opening new jobs in the shipyard and with sub-contractors, Vrhovnik said. reporters were told that Viktor Lenac currently has about 800 employees, whose average wage amounts to about DM1,200. (hina) it jn