Podravka sells Koprivnička tiskarnica

Throughout the whole process, Podravka's foremost interest has been to take care of the workers, the result of which is the Agreement on the Protection of the Rights of the Workers of Koprivnička tiskarnica d.o.o.

Zdravko Šestak, member of the Podravka Management Board, and Franjo Beser, Director of Grafičar d.d. from Ludbreg, signed a contract in Koprivnica on Monday whereby Podravka sells to the Ludbreg company its 100% stake in Koprivnička tiskarnica d.o.o. The signing of the contract has officially completed the spin-off process of Koprivnička tiskarnica from Podravka. In this 10-month-long and transparent spin-off process, Grafičar from Ludbreg was selected as the best bidder which accepted all the sales terms.
At the same time, four contracts were concluded: the Contract on the Sale and Transfer of the Ownership Stake, the Contract on the Procurement of Packaging and other products (with which Podravka guarantees to place orders from Grafičar in the future years), the Contract on the Lease of Business Premises, and the Contract on the Option to Purchase Real Estate. These four contracts make a unit, and Podravka and Grafičar undertake to comply with all of them in order for the contract to be valid.
The Contract on the Lease of Business Premises is concluded with another company, KOTI Nekretnine d.o.o., to which the real estate from Koprivnička tiskarnica d.o.o. was transferred. This valuable piece of real-estate situated in the centre of Koprivnica was set aside and was not part of the sale. Accordingly, and pursuant to the wish to continue production on a new location, Podravka has undertaken to sell to Grafičar land in the industrial zone which is suitable for building a printing house. The total present production will be relocated to that area if it cannot be realised in the town’s industrial zone.
Throughout the whole process, Podravka’s foremost interest has been to take care of the workers, the result of which is the Agreement on the Protection of the Rights of the Workers of Koprivnička tiskarnica d.o.o. Before the sale, Podravka signed this Agreement with the representatives of the workers which maximally protects the workers of Koprivnička tiskarnica after the sale, so that in the three years following the sale, workers will be subject to the provisions of the Podravka Collective Agreement in a way similar to which these provisions apply to the workers of Podravka d.d. So, in the following three years, workers’ salaries, or other material rights, may not be reduced. Another very important provision is that the workers will not be given notice, either for business or personal reasons, in the next six months without the consent of the Workers Council of Koprivnička tiskarnica d.o.o.