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ZAGREB (Croatia), December 28 (SeeNews) - Three Croatian sugar factories - Tvornica Secera Osijek, Viro and Sladorana - announced on Friday plans to form a joint venture for sugar production and sales in a move aimed to consolidate the Croatian sugar industry and create a more efficient company to compete with players on the global and European markets.
The new company will operate under the name Hrvatska Industrija Secera (Croatian Sugar Industry), as Tvornica Secera Osijek will hold a 40% stake in it, the three companies said in a filing to the Zagreb Stock Exchange (ZSE).
The new company will start operations after getting a go-ahead from the founding meeting and the competition regulator.