March 2 (SeeNews) - Croatian textile company Varteks [ZSE:VART] said it has set up a subsidiary in Slovenia in order to expand its operations on that country's market.
The new unit, Varteks.si d.o.o., was established with an initial share capital of 7,500 euro, the textile company said in a bourse filing on Monday.
Varazdin-based Varteks was founded in 1918. Its own brands include Phillipe Vartin, Luis Fabre, Edora, Focus, Varteks International, and Di Caprio.
Varteks' shares closed 4% higher at 7.95 kuna ($1.26/1 euro) on the Zagreb bourse on Monday. They did not trade by 1155 CET on Tuesday.
(1 euro = 7.57733 kuna)