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Palumbo looks to help out Uljanik

Palumbo looks to help out Uljanik

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Croatian shipyard Uljanik has received a letter of intent from Italian shipyard group Palumbo Group to participate in the process of restructuring and diversification of the company.

Palumbo is the second potential strategic partner to show interest in Uljanik’s restructuring following Croatian multi-sector investment group Kermas Energija submitting a similar letter of intent to Uljanik in December.

According to a release by the government of Croatia, the management of the Uljanik shipyard has submited a proposal to the country’s economy ministry in November for the restructuring of the Uljanik Group which involves finding a strategic partner to ensure the long-term sustainability of the company’s business operations. The shipyard had incurred significant losses in the past few years despite the fact that it had secured plenty of orders.

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Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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