ZAGREB, Feb 21 (Hina) - The Italian company "Sol" from Monza is interested in joint venture with the Sisak Ironworks as well as in establishing a joint company for the production of technical gas.
ZAGREB, Feb 21 (Hina) - The Italian company "Sol" from Monza is
interested in joint venture with the Sisak Ironworks as well as in
establishing a joint company for the production of technical gas.
#L#
It is expected that the two companies would soon sign a
preliminary agreement. Croatian Economy Minister Davor Stern, the
Sisak Ironworks General Director Stjepan Paulin and the
representative of the Italian company "Sol", Aldo Fumagalli
Romario, today held talks on details of their joint venture.
'We are working on the separation of the production of
technical gas from the Sisak Ironworks and on the establishment of
a company with limited liability. The new company would have 30 to
35 employees and foreign investors would be the majority share-
holder', Stjepan Paulin said.
The Sisak Ironworks would provide plants while value
differential would be paid as recapitalisation by the Italian
partner.
Minister Stern said that the joint venture would be the
beginning of the financial reconstruction of the Sisak Ironworks,
which suffered war damage that amounts to 55 million German marks.
Speaking about "Sol", Romario said that the company had been
established in 1927 and that it was one of the largest European
family companies in the field, with 850 employees and an annual
turnover amounting to 300 million German marks.
(hina) rm jn
212006 MET feb 96