Brodotrogir d.d.

Sales department (shipyard)
ph. + 385 21 883 - 201
fax. + 385 21 883 - 417
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Sales department (shiprepair)
ph. + 385 21 883 - 303
fax. + 385 21 883 - 406
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Shipyard Trogir Restructuring Program Approved

At its 85th session, the Croatian Competition Agency approved state support for restructuring contained in the Shipyard Brodotrogir Restructuring Program, composed by the company Jadranska Ulaganja d.o.o. The support amounting to a bit more than HRK 2.8 billion was approved for the period from 1st March 2006 until the end of 2016, and it consists of subventions, state guarantees, write-off and takeover of debts by the Croatian Government. The program establishes restructuring expenses in the amount of a bit more than HRK 4.6 billion, of which HRK 1.8 billion or 40 per cent would be own contribution by the shipyard, or investors.   

The Agency’s decision determines the conditions and the deadlines which must be met during the implementation of the restructuring program. So, the compensation measures in the form of reducing production capacities amount to at least 54.955 CGT. The measure of reducing production capacities has to be implemented within a year from the day of signing the privatization contract. Furthermore, in accordance with the commitments assumed during the negotiations about the EU membership, within that deadline, the Ministry of Economy, Labour and Entrepreneurship should deliver to the Agency and the European Commission the proof of the implementation of the measure of the Shipyard Brodotrogir production capacities reduction, and until the end of the restructuring process the mentioned institutions should get the semi-annual and annual reports about the implementation of the Restructuring Program, until 15th January and 15th July for the previous six months at the latest. In addition, the Ministry of Economy, Labour and Entrepreneurship has to deliver to AZIN the Shipyard Brodotrogir annual financial reports by 30th April of the current year for the previous year at the latest, for each year of the restructuring period.

During the implementation of the restructuring program, the Shipyard Brodotrogir cannot get other supports besides those envisaged in the approved restructuring program. The new support for restructuring cannot be granted to this entrepreneur before the expiration of the 10-year deadline since the day of signing the privatization contract.

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