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Slovenia's Iskra acquiring Croatian cable maker Elka

Slovenia's Iskra acquiring Croatian cable maker Elka Croatian cable maker Elka/Photo: Croat govt

ZAGREB (Croatia), May 25 (SeeNews) - Slovenian electrotechnical products manufacturer Iskra said it is acquiring Croatian cable producer Elka from the Cotra-Elka group for an undisclosed sum.

Iskra signed a contract with the Cotra-Elka group for the acquisition of 100% of the shares in Elka on May 22, the Slovenian company said in a statement on Monday.

Iskra reported a record 130 million euro ($159.3 million) in consolidated revenues in 2020 and expects the figure to grow by more than 20% in 2021, Dusan Sesok, Iskra director and majority owner, said in the statement.

Iskra provides intelligent industrial solutions and cutting-edge electrotechnical products. Iskra helps companies to improve existing applications and introduce new technologies in strategic business areas, according to information published on the company's website.

($ = 0.8161 euro)

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