Through a project worth 45 million kuna and with welcome co-financing from the European Union, an innovative new product involving Slavonian oak doors is currently being developed in Vinkovci.
As Suzana Varosanec/Poslovni Dnevnik writes on the 11th of March, 2019, Vinkovci's Spačva wood industry, with its 865 employees, is going from strength to strength
Last year, the industry achieved fifteen percent higher revenues than it did back in 2017, and the same positive trend is set to continue throughout 2019. With a net profit of seven million kuna in 2017, Spačva's profit in 2018 was higher than fifteen million kuna.
A new phase of development, based on innovation and further competitiveness, has now been launched, and our struggle for raw material is going to lead us to the abandonment of the unlawful distribution of raw materials which is breaking the market and the transition to a market model,'' Spačva's Josip Faletar said, adding that the majority of the wood and the processing of it would be done in Slavonia, and in that case, the Vinkovci-based Spačva would employ 200 new workers in a boost to Slavonia's dwindling economy.
The company has been deprived of its old, burdensome commitments, and since last year it has been primarily focused on development projects, two of which are currently under way, and they're also preparing other new projects, which are of an innovative character and have been carefully developed in close cooperation with the scientific community.
The largest project in progress is worth 45 million kuna and is being co-financed by the EU, the project in question is the development of a new product made from sturdy Slavonian oak, which, with its charm, looks and high quality would likely easily conquer the demanding European market. This project has been in the works for four years now and is going according to plan, said Faletar, and along with experts from Spačva, a dozen scientists from the Zagreb and Osijek forestry faculties are also working hard on it.
Moreover, by the end of this year, Vinkovci's Spačva will announce the completion of a project worth more than 30 millio kuna which has been financed entirely from its own sources and loans. Namely, the company plans to achieve better raw material utilisation, at higher speeds and with greater flexibility in the process of tailoring customer requirements to the EU's single market.
Revenues from this Vinkovci company's sales in 2018 amounted to close to 230 million kuna, out of which on foreign markets in thirty countries, sales amounted to 73.08 percent, in the amount of 167.6 million kuna. The most important export countries are Italy, Serbia, France, Germany, and Romania. In the period from 2013 to 2018, Vinkovci's Spačva invested more than 100 million kuna into its machinery, equipment and infrastructure, and in 2019 it plans to invest a further 50 million kuna.
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Click here for the original article by Suzana Varosanec on Poslovni Dnevnik
