September 22 (SeeNews) - Croatian electrical equipment manufacturer Koncar Elektroindustrija [ZSE:KOEI] group said on Wednesday that it will spin off Koncar Digital, its arm for digital services and solutions, from its unit Koncar – Power Plant and Electric Traction Engineering.
“Development and application of digital technologies, primarily in power engineering, is an area of strategic interest for Koncar Group. The newly-established company Koncar– Digital will be based on the know-how that has been developed over recent years and it will act as a backbone of further development of digital technologies,” Koncar said in a filing to the Zagreb bourse.
Koncar's shares last traded on Tuesday at the Zagreb bourse ending at 730 kuna ($114/97 euro), up 2.10% from the previous close.
(1 euro=7.495 Croatian kuna)