URSH Supports Dok-Ing’s Bid to Take over Tžv Gredelj.

Creditors of TŽV Gredelj gathered at the 25th session of the Creditors’ Committee to consider the offer from Dok-Ing to take over the bankrupt company. It is a lengthy process where claims have reached about 800 million kuna, with four secured creditors.

Dok-Ing’s Offer

The owner of Dok-Ing, Vjekoslav Majetić, confirmed that after a detailed analysis, the company submitted a bid to take over Gredelj. He emphasized that they have a comprehensive plan for business revitalization, including technological upgrades and significant new employment. Currently, about 400 workers are employed at Gredelj, and Majetić claims that in the future, between 1100 and 1200 could be employed.

Synergy with American Partner

Dok-Ing plans to operate in synergy with the American company NRE, a long-time partner of Gredelj. Gredelj has already been refurbishing locomotives for NRE, and the new collaboration is expected to ensure business expansion on a global scale.

URSH Support

The Croatian Workers’ Union Association (URSH) supports this offer. Their representative, Željko Starčević, who represents the majority of workers, stated that they are eagerly awaiting the decision of the Creditors’ Committee. “For us workers, it doesn’t matter who comes as the owner, as long as the company functions and workers get permanent contracts. However, we believe that Dok-Ing, with its strategic partners, will do an excellent job in the rail vehicle niche.” said Starčević.

Development Perspective

Majetić claims that only Dok-Ing can continue Gredelj’s production in Croatia. He emphasized that it is the largest post-war investment in building a new factory in Zagreb, which is why the Government of Croatia should show interest. If the offer is not accepted, there is a risk that in the event of liquidation, the entire valuable infrastructure could be lost.

Workers’ Stance

Workers have expressed concern about the duration of the bankruptcy process, which has been ongoing for eight years. Starčević reminded that during this period, 50 former workers – creditors passed away without seeing a resolution. “It is important that the process finally ends and that workers have a secure future,” he added.

Next Steps

The bankruptcy trustee, Tomislav Đuričin, reported that due diligence is also being conducted by two other foreign companies from the railway sector. The Creditors’ Committee can decide to open Dok-Ing’s offer or wait for other investors. A final decision is expected in the coming weeks.

Conclusion

Dok-Ing’s offer represents a serious opportunity for ending the bankruptcy of TŽV Gredelj. If it gains the support of the creditors, the company could resume operations, create new jobs, and return Gredelj to the global map of rail vehicle manufacturers.