The agreement enables the company to finally get a EUR 10 million loan, he said.
The signing is expected in the next few days.
The money will be used to pay two unpaid monthly salaries and severance packages as well as for the stabilisation and development of production, said Koscec.
Varteks will get the loan from the Croatian Bank for Reconstruction and Development and Zagrebacka Banka. Each will provide EUR 5 million.
Koscec said the agreement marked the end of a four-year financial consolidation and overhaul and that it was important for keeping most jobs in the company and enabling it to once again become a driver of positive trends in Croatia's industry.
The company has a little under 2,000 employees and restructuring envisages some layoffs, but Koscec would not specify how many.