The spin-off of Koprivnička tiskarnica d.o.o. continues

The representatives of the trade union, Workers’ Council, Management of Koprivnička tiskarnica and Podravka d.d. held a meeting in which they discussed the reasons for and the aims of the spin-off of Koprivnička tiskarnica.

Since in its business strategy Podravka has defined food and pharmaceuticals as core corporate activities, it will continue the spin-off of Koprivnička tiskarnica d.o.o. By focusing on its core activities Podravka will be able to make its business activity more efficient.

The goals to be achieved during the spin-off have been defined as follows: – long-term continuation of business by Koprivnička tiskarnica and an increase in the quality of its products and services, – protection of the rights of workers of Koprivnička tiskanrica – continuation of cooperation between Koprivnička tiskarnica and Podravka on the basis of a multi-year contract even after the spin-off.

Since Koprivnička tiskarnica can only develop its business activity within a company which deals with the graphic business, the Podravka Management have decided that the buyer of the 100% stake should only be a company already engaged in the graphic industry which would be ready to accept the conditions of the tender. So, the sale will relate to business activity only and not to the real estate in which the business is currently located. It is also true that the location in which the printing facility is located now does not enable expansion or development of printing activity. One of the key conditions of the sale will be the Agreement on the Protection of Workers’ Rights, according to which the buyer will have to respect the workers’ rights established by this Agreement.

Today’s meeting is the first step in the drawing up of the Agreement since Podravka Management, as always, wishes to continue partnership with the trade union and employees with whom they will discuss the restructuring process. According to the term plan, the Agreement is expected to be completed in the course of next month. After negotiations with the trade union and Workers Council, Podravka Management will make a final decision on the methods, dynamics and other terms of the spin-off.