Končar reported on Monday that the preconditions for concluding the transaction have been met, whereby Siemens Energy Holding B.V. is acquiring a 40 percent ownership stake in the company Končar – Transformer Boilers, which will engage in the production of transformer boilers.
As a reminder, in July 2024, Končar and Siemens Energy signed an agreement for a joint venture, or collaboration in the form of a company named Končar – Transformer Boilers. The goal of the collaboration between the two partners is to establish a jointly owned company in which Končar will be the majority owner with 60 percent, while Siemens Energy will hold a 40 percent stake.
This agreement was signed by the CEO of Končar Gordan Kolak and a member of the global management of Siemens Energy Tim Holt, and as part of the project, Končar plans to build a plant for the production of transformer boilers in Sesvetski Kraljevac. The future facility will produce approximately 160 boilers for large energy transformers annually and will employ around 400 staff.
At the beginning of February, Končar also reported that the European Commission provided them with a decision that the future joint investment between Končar and Siemens Energy Group is compatible with the EU internal market and the Agreement on the European Economic Area.
