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Slovenia Business Week no. 18/2005: Holding Company Sava Entering Croatian Market

Slovenian chemical and tourism group Sava, based in Kranj, is entering the Croatian tourism market

Slovenian chemical and tourism group Sava, based in Kranj, is entering the Croatian tourism market, chairman of Sava holding company Janez Bohoric told the daily Vecer on Friday, 29 April. Sava is one of the biggest investment companies, buying properties, and then building and selling facilities.

"We will start off in Zagreb and Istria. However, we have not yet decided on purchasing tourism facilities in other parts of Croatia, Serbia-Montenegro and Macedonia," Bohoric said in an interview for the daily Vecer.

The holding company is also preparing to make extensive investments into the production of biodiesel, the goal being 50,000 tonnes of biodiesel per year, explained Bohoric. Beside oil rape and palm-tree oil, they intend to use waste oils and animal fat, of which 4,000 tonnes is collected in Slovenia.

One of the businesses the company abolished last year was the production of tyres, which was sold for SIT 180m (EUR 751,000).

Sava's ambition was to unite the domestic chemical industry, and therefore purchased paints producer Color and started negotiations with the Domzale-based chemical group Helios. According to Bohoric, the companies could not agree on the price, and Sava thus sold Color to Helios last year.

The company now wants to bolster its operations in tourism. Bohoric stressed they are making efforts for a high quality tourism business, because Slovenia is too small for mass tourism and it would be a shame for the country to allow it.

A third of Sava's capital will always be intended for financial investments, which they expect will account for at least a third of company's profit, Bohoric also said in the interview under the title "Nothing Happens on Its Own".

Source: Slovene Press Agency STA

Author: STA