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Friganovic says Split steel mill will soon go into official receivership

Autor: mses
ZAGREB, Feb 7 (Hina) - Bankruptcy proceedings for the Split steel mill are likely to be launched this or next week, Economy Ministry State Secretary Rudjer Friganovic said on Monday.

A sort of agreement has been reached with the Zeljezara Split workers on the matter and it has been agreed that the Croatian power supplier HEP should file a bankruptcy petition against the steel mill, said the ministry official.

Friganovic, who is a member of the Croatian Privatisation Fund (HFP) managing board, said during a break in the HFP board's session on Monday, that the Split steel mill would soon go into official receivership.

According to the company's latest business report issued on the Zagreb Stock Exchange, its overdue liabilities exceed HRK 400 million.

The company's property has been appraised at HRK 270 million, and some 400 workers are on its payroll.

The company's agony has been going on for some time, and Friganovic said that workers had realised that the situation had become untenable, demanding that the company go into official receivership.

(Hina) ms

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