Zlomrex wins tender for Zeljezara Split

The Croatian Privatization Fund has announced that Poland-based company Zlomrex has won the privatization tender for the country's sole producer of rebar, Zeljezara Split (Split), offering to pay $1.9 million for a 89.34 percent stake in the company. In addition, Zlomrex has revealed plans to invest $36 million in Split, which is currently working at only 36 percent of its full capacity, producing 180,000 metric tons of rebar annually. Moreover, the winner of the tender has agreed to assume Split's debts to private banks, worth $30 million. According to reports, Russian company Mechel offered slightly more for Split than the other tender participants. However, it agreed to assume only $18.5 million worth of liabilities to the Croatia's authorities, completely disregarding the plant's debts to private banks.