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Croatia’s Končar D&ST raises stake in Ferokotao to 51%

Croatia, Zagreb: Croatian power transformer manufacturer Končar Distributivni i Specijalni Transformatori announced on Thursday it has bought an additional 35% stake in Ferokotao.

It thereby increased its ownership in its supplier to 51%. Končar D&ST did not disclose the value of the deal and the names of the sellers. The company said that by the getting the majority stake in Ferokotao, it has secured its supply of transformer tanks, thus enhancing its competitive edge.

The ongoing green transition in European Union countries has generated significant demand for transformers, with transformer tanks being a crucial element in transformer manufacturing, Koncar D&ST added. Privately-owned Ferokotao is based in Donji Kraljevec, in northwestern Croatia, and produces transformer tanks for distribution, power and special transformers.

Source: SeeNews