Uljanik Shipyard announced that Kermas Energija, owned by businessman Danko Koncar, is a new strategic partner of the yard, taking majority ownership.

Following financial issues and a government bailout that called for Uljanik to find a new owner, the shipyard said it had received three bids.

Along with Koncar’s bid, the yard saw proposals from DIV, which owns rival Brodosplit, as well as Asian Bond Ventures. Koncar’s proposal was deemed in the best interests of the yard. 

Koncar will now be faced with turning around a struggling shipyard operation. The entrepreneur adds to his yard portfolio in Croatia as he also owns Brodotrogir.