Končar-Distribution and Special Transformers (D&ST) reported on Thursday that it has acquired a majority ownership stake in Novi Feromont, a company engaged in the production of boilers for energy and special transformers.
According to a statement on the Zagreb Stock Exchange, Končar-D&ST signed a purchase agreement on Wednesday, November 5, for the acquisition of a 35.79 percent ownership stake in Novi Feromont.
Prior to this acquisition, Končar-D&ST held an 18.93 percent ownership stake in Novi Feromont, and with this acquisition, Končar-D&ST becomes the owner of 54.72 percent of the equity capital.
Novi Feromont is one of the manufacturers of boilers for energy and special transformers in the region, based in Donji Kraljevac, and a long-time supplier of 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. By acquiring a majority stake in Novi Feromont, a reliable supply of transformer boilers has been secured, further strengthening Končar-D&ST’s competitive advantage in the market – the company emphasized.
