Capital Injection Into Local Water Management Company Saves 140 Jobs

By 29 March 2022
Capital Injection Into Local Water Management Company Saves 140 Jobs

ZAGREB, 29 March 2022 - Thanks to an injection of fresh capital of HRK 15.81 million for the Daruvar-based Vodoprivreda water management company, which employs 140 workers, its business future has been secured.

The company is for the most part owned by Bjelovar-Bilogora County and after the company's recapitalisation, the majority owner now is the Zagreb-based EnergoVizija company while the county's ownership share has decreased from 60.58% to 29.67%.

County Prefect Marko Marušić underscored that the company's agony had been ongoing for two and a half years and now it had been bailed out. Most importantly, 140 jobs have been saved, he said.

Marušić recalled that as soon as he stepped into office he was faced with the problem facing the company and that talks had to be held quickly with the company's creditors and investors, resulting in a favourable outcome for all stakeholders.

Marušić underscored that the county did not sell any shares and that no future strategic decision would be possible without its consent.

EnergoVizija's director, Kamilo Vrana, also said that it was important that jobs were saved.

Vodoprivreda CEO Robert Marinić underscored that restructuring the company and accepting market competition would be the management's first move.

During an extraordinary assembly on Monday, two members of the Vodoprivreda  Supervisory Board were replaced and three new members representing EnergoVizija were elected to the board, Bjelovar-Bilogora County reported on Tuesday.