Rossanda Resigns as Brodosplit & Fincantieri Offer Uljanik a Lifeline(marine crane manufacturer;offshore crane manufacturer)

- Nov 02, 2018-

Rossanda’s resignation was one of the demands from the shipbuilder’s unionized workers, who are on strike since last week. The workers are also demanding their outstanding salaries to be paid as the company management and Croatian authorities scramble to come up with a new restructuring plan for the ailing shipbuilder.

The company said in a regulatory filing on Wednesday, October 31, that its account has been blocked again. The blocking of account is being announced as new members of the Supervisory Bard are appointed, who are expected to ensure workers are paid their wages for September.

A solution for the cash-strapped shipbuilder is being offered by Brodosplit, part of DIV Group, together with Italian shipbuilding giant Fincantieri. Namely, Darko Pappo, member of DIV’s board, confirmed to local media that the duo submitted a letter of intent to Croatian Ministry of Economy to take over Uljanik and 3. maj.

As explained, the move is a response to the call issued by the Croatian Government to express interest in Uljanik Group. The country’s Minister of Economy Darko Horvat confirmed to Croatian media that the letter was received. According to Horvat, the letter proposes capital injection and willingness to take over the management of Uljanik’s restructuring process. However, concrete details were not revealed.

Should new partners be approved they would have to join forces with Danko Koncar-led Kermas Energija, which was selected as Uljanik’s strategic partner for the restructuring process in May 2018.

World Maritime News has approached all three companies for a comment on the matter and is yet to receive a reply.

The most important thing at the moment is the revised restructuring plan that was submitted to the European Commission for consideration, according to Horvat. The new plan, which does not include the impact from the recent wave of order cancellations, calculates that Uljanik’s restructuring will cost 5.27 billion Croatian Kuna (USD 808 million).(marine crane manufacturer;offshore crane manufacturer)

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