Croatia: Elip plans EUR 1 million glass production line

Croatian construction and engineering company Elip, based in Vukovar, eastern Croatia, plans to invest EUR 1.0 million (USD 1.1 million) in a glass production line, the company announced on 17 April 2…

Croatian construction and engineering company Elip, based in Vukovar, eastern Croatia, plans to invest EUR 1.0 million (USD 1.1 million) in a glass production line, the company announced on 17 April 2003. The production line will create jobs for 20, to add to the 110 already employed at the company. The company has signed contracts to carry out projects worth HRK 16 million Croatian (USD 2.3 million/EUR 2.1 million) in 2003 and is expected to sign contracts for projects worth another HRK 4.0 million (USD 585,000/EUR 537,000) by the end of 2003, according to Elip board member Zlatko Pandzic. The company posted a HRK 100,000 (USD 14,600/EUR 13,400) profit for 2002, compared to a HRK 725,000 (USD 106,000/EUR 97,300) loss for 2001. Elip reported a HRK 70,000 (USD 10,200/EUR 9,400) profit for 2000. Croatian construction and trading company Neretva-Inzenjering has a 69% stake in the company.