Turkish company buys Croatian Adriaoil asset

Turkish company buys Croatian Adriaoil asset

ISTANBUL - Hürriyet Daily News
The supervisory board of Dioki, a Croatian petrochemical industry company, approved a preliminary agreement Aug. 21 for the sale of Adriaoil, a subsidiary of the Dioki Group, to Turkey’s Çalışkan Kömür, according to a company announcement issued to the Zagreb Stock Exchange yesterday.

An advanced payment of 5 million euros from the Turkish company will be used as funds to pay lingering monthly salaries to workers of the Zagreb-based Dioki plant and the Dina Petrokemija plant on the island of Krk, according to Croatian news portal, dailytportal.hr.

Dioki Supervisory Board Chairman Zdravko Rumenovic told the press the payment of overdue salaries could be expected by the end of the next week.

Workers await salaries

The preliminary contract is now in the process of being verified by lawyers of the Turkish group, the website said.

A representative for the workers said that tensions among employees have risen as they have waited for their salaries for a few months.

The last time they received wages they earned in February was on April 27.

Dioki employees believe there is no justifiable reason for new procrastination on the payment of their wages, it said.

Adriaoil was established in 1969 by Croatian petroleum company INA. In 2005, the company became a part of the Dioki Group. Adriaoil is active in the sales and marketing of petrochemical products and raw materials.

The Dioki Group is comprised of the facilities of Croatian INA-OKI, Dina Petrochemicals and Etilen Petrol in Zagreb Croatia.