State Sells Its Lenac Debit Claims

Government Vice-President Damir Polancec said that the state sold its debit claims to Uljanik and Tankerska plovidba for ten million kunas.

After the Government's session, State Secretary in the Ministry of Finance Damir Polancec and Government's spokesman Ratko Macek addressed the press.

Even though the state's debit claims to Rijeka shipyard Viktor Lenac amounted to 326 million kunas, companies Uljanik and Tankerska plovidba bought them for ten million kunas, with a mandatory 58 million kunas' investment in the Lenac capital stock.

Modernization of Lenac

- The tasks of Uljanik and Tankerska plovidba are to modernize Lenac, to keep the current 650 employees and hire new people – said State Secretary Zigman.

He added that this finalized the bankruptcy of Viktor Lenac and that the shipyard would get all the requisite conditions for development in the next five to ten years.

Polancec continued by saying that they had full support of all the unions, from the Union of Autonomous Trade Unions of Croatia (SSSH) to the Union of Metal Workers.

- I thank all the unions because we managed to find common ground – said Polancec.

The Government's Vice-President also announced the further development of the proposal of the national programme of sanation of black metallurgy as well as of individual plans related to the sanation of the Split iron plant and Sisak Tube Mill.

- The privatization process is the primary goal and the state's maximal debt write-off for the Split iron plant could amount to about 267 million kunas – said Polancec and continued by saying that facts would only become clear after the applications have been submitted.