Podravka held a meeting with creditors of SMS d.o.o. company

Podravka invited all creditors of SMS d.o.o. company to a meeting attended by a Tax Department Representative and a Financial Advisor. The topic of the meeting was the company analysis of SMS d.o.o. and suggestions for further proceedings.  

After a discussion between the participants (Croatian Postal Bank, Development and Employment Fond, Partner Bank, Croatian Bank for Reconstruction and Development, Tax Department) it was agreed that Podravka will lead a team composed of members of all the named partakers in order to develop a plan of recovery and restructuring of SMS d.o.o. company and to achieve the following goals:

1.    Revitalizing production in SMS d.o.o. company
2.    Reassuring customers and restoring confidence in SMS brands throughout the region
3.    Retaining as many employees as possible
4.    Developing cooperative production, primarily of olives and olive oil, but also of other vegetable cultures as raw materials for SMS branded products.

 The definitive agreement is expected to be ready in the next few weeks.