Uljanik Selects Its Restructuring Partner

Danko Koncar-led Kermas Energija will be the strategic partner of Croatian shipbuilder Uljanik in the restructuring of the financially-troubled yard.

The decision was made following a consultation with unions, according to Uljanik, which received two more letters of intent from interested investors, including compatriot DIV Group and Asian Bond Ventures from Hong Kong.

Now that the company has picked its strategic partner it can move forward with the drafting and implementation of its restructuring program.

Once the restructuring program is approved, Kermas Energija will be able to take a stake in Uljanik’s ownership structure.

The restructuring program is expected to result in workforce cuts, but at this point, there have been no estimates on the potential number of layoffs.

President of Uljanik Gianni Rossanda said earlier that over EUR 450 million (USD 551.5 million) is needed for the shipbuilder’s financial restructuring. Rossanda explained that this amount would be directed toward covering of outstanding debts as well as diversification costs.

As part of its restructuring, the shipbuilder plans to reduce its current output and switch focus on the construction of highly-sophisticated vessels such as hopper dredgers and luxury cruise ships which have an added value.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>

Events>

<< Apr 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

The 9th Annual Event Green Shiptech China Congress 2020

The 9th Annual Event- Green Shiptech China Congress 2020 will be held on next…

read more >

Belgian Offshore Days 2020

During this event, a conference will be held with focus on “Increasing value by data driven innovation…

read more >

Europort Romania

Europort Romania is the premier maritime networking event of the Black Sea and will connect maritime technology and service suppliers with high level professionals from Romania and surrounding shipbuilding markets.

More info

read more >

MARITIME INDUSTRY 2020

The future of the maritime sector is the point of focus during Maritime Industry 2020.

read more >