TZV Gredelj: Tatravagonka has already started opening job offers again, and they work two shifts now

TZV Gredelja´s bankruptcy trustee, Mr. Tomislav Đuričin, was the company´s savior, cooperating with laborers and creditors. It took nine years for the Railway Vehicle Factory TZV Gredelja to get out of bankruptcy. This bankruptcy was one of the biggest ones in the history of Croatia, with more than 900 million kunas in reported claims.

Slovak Tatravagonka, the company´s new owner, has committed to invest over 45 million euros into the development of TZV Gredelj.In an interview for the Večernji list, the bankruptcy trustee of TZV Gredelj, Tomislav Đuričin, talks about how he managed to save the company together with the workers and creditors.

Why did the bankruptcy proceedings of TZV Gredelj take so long?
"It has taken so long time because no strategic partner was found so far. At the very beginning of the bankruptcy, the creditors' assembly decided to draw up a bankruptcy plan. We could not draw it up until we found a strategic partner who would make an offer that would then be the basis of that bankruptcy plan. The possibility of all these creditors entering the ownership structure and the company eventually becoming a joint-stock company was never considered due to many creditors in 2004. The largest creditors are banks, leasing companies that must obtain regulatory approvals to enter the ownership structure," Mr. Đuričin commented in Croatian media.

Will the Tatravagonka invest in Gredelj?
"They have already brought in machinery and equipment.
Business is based on the greatest possible automation and robotics, but it also requires a lot of human labor. They are now working on existing robots and assembling production lines so that the production of bogies and freight cars can be automated as much as possible," he added on the topic of future investments," said Mr. Đuričin in Croatian media.