Croatia’s Koncar to merge two units

"This strategic reorganisation is expected to fortify synergies across the members of the Koncar group entities, facilitating the delivery of complex, high-value solutions more effectively," the company said in a filing to the Zagreb bourse. Its supervisory board approved the decision on Thursday.

The supervisory board also endorsed the management board's proposal for implementing a centralized ERP system and adopted a sustainability strategy of the group for the period 2024-2026, setting decarbonising production and enhancing resource efficiency as priority areas.

"SAP was selected as the optimal solution for Koncar, expected to modernize and streamline business operations, bringing standardization, improved efficiency, and centralized processing of shared functions," it added without elaborating.

Koncar's shares traded 0.77% lower at 258 euro ($279.6) on Friday morning.

($ = 0.923 euro)