Gorenje Chairman says Foreigners are Eyeing the Company
Oct 1, 2002
 Print this page

Gorenje Chairman Joze Stanic says that a takeover attempt of the Slovenian appliance company could take place within the next 2 or 3 years and the company is prepared for it. "We do not intend to impede the development of Gorenje," Mr. Stanic says.

However, he says a takeover would only make sense if it has synergetic effects, and the management would only back it if development, synergy, and new jobs are guaranteed. "When we negotiate we certainly will not allow the trademark, with which we conquered four percent of Europe, to be lost," he says.

Gorenje can be a successful company on its own, without a foreign partner, he says.

Holding a 4-percent market share in Europe, Mr. Stanic says Gorenje has already reinforced its position in Yugoslavia, and has further investments planned. It also is expected to return to the Australian market. It produced 2.6 million large domestic appliances in 2001.

Back to Breaking News