ROVINJ FACTORY OFFERS CRO TOBACCO TO MULTINATIONAL COMPANIES

ROVINJ, July 3 (Hina) - The Rovinj Tobacco Factory (TDR) on Saturday offered multinational companies interested in purchasing Croatian tobacco the possibility of purchasing half of last year's picking at a price which has not changed in the last five years. Interested companies were also offered ownership over three tobacco processing companies, on condition the new owner merge them into a single company, TDR representatives told reporters in Rovinj on Saturday. According to TDR head of management Ante Vlahovic, both offers are valid until the end of 2000. He said TDR does not need ownership over Croatian tobacco processing companies, but the realisation of a concept which will result in more rational production of domestic tobacco and cheaper tobacco recognisable on foreign markets. Vlahovic said Croatian tobacco must be preserved to preserve the four-century-long tradition of tobacco processing in these parts, as well as to create prospects for numerous rural economies living on it. From rural economies we want to purchase 12,000 to 15,000 tonnes of tobacco a year, he said. In the course of last year, TDR paid more than two thirds of an invested DM55.7 million to buy shares in three Croatian tobacco factories. This was done to prevent an international monopoly of Croatia's tobacco and cigarette markets, Vlahovic said. TDR ended 1998 with a net profit of US$21.5 million. (hina) ha jn