On Friday, Končar announced that it signed a joint-venture investment agreement with Energy Holding into production of transformer tanks. Končar will have the majority ownership with a share of 60%.

 On Friday, Končar notified via the stock exchange about signing a Joint-Venture Investment Agreement with Siemens Energy Holding. The goal of this JV is to establish a company dedicated to producing transformer tanks. Končar will have the majority ownership with s share of 60%. The production site will be stationed at Sesvetski Kraljevac.

The company emphasized the EU green transition’s strong positive effect on the Group. This JV should scale up the Group’s production of transformer tanks, setting the base for further strong growth in global market reach.

Končar vs. CROBEX10 performance [2021 – 2024]

Source: Bloomberg, InterCapital Research