Post by Peter Ellis on Oct 5, 2004 21:15:08 GMT 1
Privatisation Fund's account blocked once again
Grupa Pan expecting 750 million to one billion kuna revenue in 2005
Koncar Alati in cooperation with Electrolux manages 2.5 million euros'
revenue
A drop in the number of employees working in the industry sector
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BM__1Privatisation Fund's account blocked once again
The Croatian Privatisation Fund's (HFP) bank account is blocked once again.
On Friday, Sept. 24, SN Holding blocked the Fund's account, as it had won
the court case against the Fund regarding the obligations the Fund had not
met during the voucher privatisation.
The Commercial Supreme Court has lifted the blockade a couple of weeks ago
due to formal deficiencies in the seizure procedure launched by SN Holding,
which forgot to request of the Court the seizure clause. In the meantime SN
Holding lawyer team has managed to rectify the deficiency and the Fund's
bank account is now blocked again.
According to court rulings, HFP owes SN Holding 224 million kuna, and it has
to transfer the shares worth 43 million euros to Dom Holding. During the
first two-month-long blockade of the HFP bank account the two holding
companies managed to seize some 67 million kuna from the Fund account, said
deputy PM Hebrang.
BM_2Grupa Pan expecting 750 million to one billion kuna revenue in 2005
Grupa Pan, producing paper and located near Belisce, is the only dominant
paper producer in Croatia. In the first eight months of 2004 Pan managed a
revenue of 257 million kuna, of which 24 million comes from exported goods.
The total revenues of Pan Group in 2003 amounted to 350 million kuna, while
exports accounted for 30 million kuna.
"Since the mid-nineties we have invested some 450 million kuna, just in the
technological improvements that are ecologically sound and managed the
ecological transformation of all segments of the company. Due to large
previous and current investments at the end of 2005 we are expecting a gross
revenue of 750 million to one billion kuna and of that 100 million is
expected to come from exports," said speaking to the latest edition of Banka
Magazine monthly the Pan Grupa CEO and chief owner Marinko Mikulic.
According to him, the Company is to invest a further 200 million kuna into
the state's paper gathering network that is to start operating next year and
which will have included all Croatian towns and the most remote
municipalities.
BM_3Koncar Alati in cooperation with Electrolux manages 2.5 million euros'
revenue
Koncar Alati, a company which is part of the Koncar concern has been
producing, for five years now, tools and machinery used in production halls
by the largest world producer of kitchen appliances, Swedish Electrolux
Group. According to Koncar data, the revenues generated from the
co-operation of these two companies so far amount to 2.5 million euros with
largest orders being carried out this year. Before the end of the year the
value of the machinery sent to a U.S.-based Electrolux plant from Koncar
will rise to almost a million euros.
In the first eight months of 2004, the Koncar concern reported consolidated
revenue of 1.02 bln kuna, while in the same period new contracts worth 1.04
bln kuna have been signed. At the end of August Koncar's orders value stood
at 1.7 bln kuna. Of the total revenues, 61% had been made on the domestic
market with largest client being the Croatian Electricity Board. The Koncar
concern is mostly exporting its products to the EU market, as well as the
markets in the countries of former Yugoslavia.
BM_4A drop in the number of employees working in the industry sector
The total number of employees working in the industry sector in Croatia in
August was 0.1 percent down mom and down 1.5 percent yoy.
When compared against the average monthly number of employees in 2003, the
number of employed in the Croatian industry sector in August 2004 was down
1.3 percent, announced the State Statistics Bureau.
At the same time, productivity in Croatian industry between January and
August of 2004 rose 6% yoy.
(Courtesy Bankamagazine)