Uljanik Group still hammering out restructuring plan

Dusko Marusic/PIXSELL

Expert task forces at the Uljanik Group shipbuilding company and the economy and finance ministries are currently working on hammering out "the basic principles" of the restructuring plan for the shipyard, which includes preparing replies to the European Commission's queries, the Uljanik Group told state news agency Hina on Friday.

“We’ve just agreed on the working methodology for the plan, so that, prior to sending it to the EU, we can agree on all the essential elements that will be supported by the key stakeholders in the restructuring process – which will be Uljanik, its strategic partner, and the government,” the company said.

“The procedure is essential, so that the amended restructuring plan can be sent to the EU at the start of next week,” Uljanik added.

Economy Minister, Darko Horvat, said on Friday that the amended plan hadn’t yet arrived at the ministry.

“At the moment, the Economy Ministry is waiting for the amended restructuring plan for Uljanik. Considering announcements that the plan would be finalised by yesterday, and that we still haven’t received the paper today, it is difficult to say what new models would be presented for the restructuring of the shipyard,” Horvat told reporters on the margins of a conference on regional development.

A draft overhaul plan for Uljanik was sent to the European Commission in July, which in turn sent 75 objections to the plan. The economy ministry then tasked Uljanik’s management with re-drafting and adjusting the plan, so that it is in line with the Commission’s demands.

Horvat had earlier remarked that the amended programme would be sent to Brussels late this week, or early next week. He also announced that he would meet next week with local authorities at the northern Adriatic city of Pula – where Uljanik is based – to see whether it would be possible to re-purpose some plots of seaside land occupied by the shipyard.

On Friday, Horvat said that at the moment the restructuring plan does not include the Rijeka-based 3. Maj shipyard, which is also owned by Uljanik Group.

“As far as I’m concerned, the fastest way to solve the problem would be if we started treating them (Uljanik and 3. Maj) as two separate business entities, each looking for a strategic partner – one has already been selected by the Uljanik management board – which is Danko Koncar (for the Uljanik dock) – and we are currently negotiating in an effort to find another strategic partner for the 3. Maj dock,” Horvat said.

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