From Končar – Distributive and Special Transformers (D&ST) announced on Thursday via the Zagreb Stock Exchange that they have acquired a majority ownership stake in Ferokotao.
On Wednesday, November 15, Končar D&ST signed purchase agreements to acquire a 35 percent ownership stake in the company Ferokotao, according to the announcement.
Prior to this acquisition, Končar D&ST held a 16 percent ownership stake in Ferokotao, and now becomes the owner of 51 percent of the equity capital.
Ferokotao is one of the largest manufacturers of boilers for distribution, energy, and special transformers in the region, based in Donji Kraljevac, and has been a long-standing important supplier to Končar D&ST.
– The green transition, which is in full swing in European Union countries, has resulted in a high demand for transformers, and one of the key components for transformer production is transformer boilers – emphasized Končar D&ST.
By acquiring a majority stake in Ferokotao, they stated, a reliable supply of transformer boilers has been secured, further strengthening Končar D&ST’s competitive advantage in the market.
