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Croatia's interior ministry places 8.6 mln kuna (1.1 mln euro) order with shoemaker Borovo

Sep 28, 2017, 2:04:52 PMArticle by Maja Garaca
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September 28 (SeeNews) - Croatia's interior ministry said on Thursday it has placed an 8.6 million kuna ($1.3 million/1.1 million euro) order with troubled state-owned footwear maker Borovo for the delivery of footwear for the police force.

Croatia's interior ministry places 8.6 mln kuna (1.1 mln euro) order with shoemaker Borovo
Author: Ray Forster. Licence: Creative Commons.

The order includes 9,000 pairs of boots for all police branches and 1,500 pairs of ankle-boots for riot police, the interior ministry said in a statement.

Earlier this year, Croatia's government said it will pledge a portion of its shares in electrical company Koncar and telecoms operator Hrvatski Telekom (HT) as collateral for a 46 million kuna loan to distressed Borovo.

The government also obliged the management of Vukovar-based Borovo to seek solutions for the company's restructuring, while engaging in the search for a strategic partner.

Borovo was a leading footwear producer in Croatia and the region before it ran into financial troubles.

(1 euro=7.50042 kuna)

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