February 18 (SeeNews) - Slovenska Bistrica-based aluminium producer Impol, a subsidiary of Slovenian management company Impol 2000, is set to enter Croatian aluminium smelter Tvornica Lakih Metala (TLM) and restore production in the ailing co, local media said.
Impol and TLM's largest creditor, bankrupt Jadranska banka, have reached a debt purchase deal, with the consent of Croatia's finance and economy ministries, and are shortly expected to receive the go-ahead from the country's parliament, news broadcaster HRT reported on Wednesday.
Impol is expected to settle TLM's debts towards Jadranska banka and hold the deciding vote at the company's shareholders assembly scheduled for March 9.
In September, the then economy ministry said that steps will be taken to find a strategic partner for the embattled aluminium smelter.
Tvornica Lakih Metala's loss surged to 50.1 million kuna ($7.3 million/6.7 million euro) in 2014 from 553,000 kuna in 2013.
(1 euro=7.61982 Croatian kuna)