Končar acquires majority stake in Novi Feromont
Končar D&ST secures reliable transformer tank supply by acquiring a majority stake in long-time partner Novi Feromont.
Image for illustrative purposes
Croatia, Zagreb / Donji Kraljevec: Končar – Distribution and Special Transformers (D&ST) announced that it has acquired a majority ownership stake in Novi Feromont, a manufacturer of transformer tanks for energy and special-purpose transformers.
According to a statement published on the Zagreb Stock Exchange, Končar-D&ST signed a purchase agreement on 5 November to acquire a 35.79 % stake in Novi Feromont. Before this transaction, Končar-D&ST held 18.9 %, bringing its total ownership to 54.72 % of the company’s share capital.
Novi Feromont, based in Donji Kraljevec, is one of the leading manufacturers of transformer tanks in the region and has been a long-standing supplier to Končar-D&ST.
“The green transition, which is well underway across the European Union, has created strong demand for transformers. One of the key components in transformer production is the transformer tank. By acquiring a majority stake in Novi Feromont, we have secured a reliable supply, further strengthening Končar-D&ST’s competitive position in the market,” the company said in its announcement.
Source: Index.hr
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