Business

ZAGREB, April 2, 2019 - Janaf on Tuesday put into operation three new crude oil tanks in Omišalj on the island of Krk, and this national operator of the oil pipeline and storage system invested nearly 280 million kuna (38 million euro) in this project that enables the storing of 240,000 cubic metres of crude oil on that Adriatic island. The new tanks increase the capacity of the Omišalj terminal where there are now 20 tanks for the storage of 1.4 million cubic metres of crude oil, while storage capacity for petroleum products is 80,000 cubic metres. The inauguration of…

Atlantic Group has sold its sports and functional nutrition business Genuport from Germany, this includes brands such as Multipower, Champ and Multaben, which is just a continuation of selling its non-strategic operations, reported Atlantic on Tuesday, reports Agrobiz on April 2, 2019. Genuport is a long-time partner of Atlantic in the distribution of sports and active nutrition products. The divested business operations accounted for 133.7 million in revenue in 2018, accounting for 2.5 per cent of the total income of Atlantic Group, the statement said. The conclusion of the sales agreement is a continuation of the corporate strategy of disinvestment…

ZAGREB, April 2, 2019 - The Uljanik shipbuilding group said on Monday that a client from Kuwait had cancelled a contract for the construction of a vessel for livestock transport but that it was willing to negotiate new contract terms and have Uljanik continue work on the vessel. Livestock Transport & Trading Co. terminated the existing contract because the vessel could not be delivered in line with the terms defined by the current contract, said the shipyard, which has been in financial trouble for months. It added that the client was willing to renegotiate the contract and that talks on…

ZAGREB, April 2, 2019 - The Konzum and Mercator supermarket chains and the Tisak tobacco and newspaper stands will constitute the core business of the new Fortenova Group, the successor to the Agrokor conglomerate, a source close to the new corporation's management said on Monday and announced the resolution of non-core property and re-scheduling of a roll-up loan. The new company's focus will be on Konzum, Mercator and Tisak, the source said and added that the conglomerate's non-core property, valued at 150 million euro, was a huge challenge. The source underscored that the Konzum and Mercator supermarket chains were very…

Along with the current works on the renovation of the Senj harbour, the Senj Port Authority has begun to develop projects for the extension of Senj's port, so that the breakwaters can be lengthened. As Morski writes on the 2nd of April, 2019, the Điga breakwater, more specifically the Sv. Marija breakwater, would be extended by a further one hundred metres, adjusted to the length of Jadrolinija's ferries, and the Hungarian riva (waterfront), would be extended by another thirty metres. The construction of a brand new waterfront instead of Senj's current wooden waterfront would add another pier to the southernmost…

The desire is to breathe some life into, and renew the old tradition of island sheep farming on the island of Cres in the Kvarner region through cooperation with local OPGs and cheese factories. As Marta Duic/Poslovni Dnevnik writes on the 2nd of April, 2019, in the village of Loznati on the beautiful island of Cres on Monday, construction began on the Loznati agricultural cooperative. As the co-manager Bruno Žic explained, their goal is to restore old fame to island livestock breeding and continue to maintain the tradition of sheep farming that has been present on the island of Cres…

ZAGREB, April 1, 2019 - The head of the Uljanik shipyard's strike committee, Boris Cerovac, said in Pula on Monday workers were continuing with the strike, even though the Metalworkers' Union (SMH) decided to end it, while the Adriatic Union and the Istria, Kvarner and Dalmatia Union believe workers cannot return to work as they have not received seven monthly wages. "We are continuing with the strike until our demands are met, which is the payment of wages for seven months," said Cerovac, who heads the Adriatic Union. SMH shop steward Đino Šverko told Hina the SMH formally no longer…

AMPnet is the best Croatian startup, and it's going to the big final in Krakow, Poland. As VLM/Poslovni Dnevnik writes on the 1st of April, 2019, AMPnet's platform focuses on energy cooperatives, an alternative model of sales for electrical energy and the financing of renewable energy sources. Mislav Javor from AMPnet pointed out that the product is now finished, and how their very first clients are knocking at their door. With the winning project, AMPnet IO d.o.o. was proclaimed as the best Croatian startup this year between nine finalists at the national final of the PowerUp! competition held within the…

Two years ago, Ivica Todorić signed Lex Agrokor, handing over the control of his gigantic company to the control of the state in an attempt to save it from collapsing. Since then, the largest restructuring in this part of Europe has taken place, a tumultuous phase we are now coming to the end of. As Agrokor and all of its tremendous woes finally enter the realms of Croatia's business history, Fortenova begins its operations on a clean(er) slate. As Jadranka Dozan/Poslovni Dnevnik writes on the 1st of April, 2019, as of today, which was already publicly announced by the former…

Croatian companies have a chance for further growth and more exporting should Croatia decide to deepen its business ties and cooperation with China, the country which is currently undertaking the mammoth task of constructing Pelješac bridge. As Suzana Varosanec/Poslovni Dnevnik writes on the 31st of March, 2019, at the 8th Summit of heads of government of central and eastern European countries and China, which will be held from the 9th to the 12th of April in Dubrovnik, the "Dubrovnik Guidelines" document is expected to be adopted, which will lay out the activities in this format in the forthcoming phase. The…