October 2 (SeeNews) - Croatian valves and fittings manufacturer MIV [ZSE:MIV-R-A] said on Tuesday it completed the integration of local non-ferrous metals foundry Strojar.
The integration of Strojar into MIV was approved by the Commercial Court in Varazdin on October 2, MIV said in a filing with the Zagreb Stock Exchange.
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In June, MIV said it agreed to integrate Strojar into its business structure, as it owns the entire 9.49 million kuna ($1.47 million/1.28 million euro) capital of the non-ferrous metals foundry.
Strojar has several hundred customers in the fields of mechanical engineering, shipbuilding, engine production and other industries. More than 50% of its output is exported to Austria, Slovenia and Germany.
(1 euro = 7.43076 kuna)