European Century Shipyard Uljanik Wants To Sell Shares

- Apr 08, 2018-

 Kermas Energija, led by Danko Koncar, will become a strategic partner in the restructuring of Uljanik, a Croatian shipyard that has been caught up in a capital crisis.welding overlay flange


According to the Uljanik shipyard, the company made a decision on this restructuring after consulting the union. The shipyard received a total of three letters of intent from interested investors, in addition to Kermas Energija, Croatian DIV Group and Asian Bond Ventures in Hong Kong, China.


After this selection of strategic partners, Uljanik Shipyard will be able to advance the drafting and implementation of the restructuring plan. Once the reorganization plan is approved, Kermas Energija will take a stake in the ownership structure of the Uljanik shipyard.pipe fittings


The restructuring plan is expected to be tailored but no specific plan cuts have yet been disclosed. Gianni Rossanda, President of Uljanik Shipyard, previously stated that the company’s restructuring funds require approximately 450 million euros (US$555.50 million), including outstanding debt and diversified costs.


Uljanik is a well-known shipyard in Europe. Founded in 1856, Uljanik has built bulk carriers, oil tankers, car carriers, livestock carriers, dredgers and cruise ships. Up to now, the Uljanik shipyard has held orders for 13 ships, including a 16500GT cruise ship, ranking the top ten in Europe for hand-held orders. pipe spooling


According to the reorganization plan, the shipyard also plans to compress the existing production capacity and transform its focus on building high-value complex ships such as dredgers and luxury cruise ships.