The petrochemical company Dioki on Monday confirmed via the Zagreb Stock Exchange that it had received a letter of intent from Terra Nova Royalty Corporation from Canada, expressing interest in cooperation with Dioki Grupa.
"The letter of intent is non-binding and contains conditions and elements that need to be met before the final confirmation of interest and signing of a cooperation agreement between the two companies," Dioki said in a statement released by the Zagreb Stock Exchange without revealing any other details on the Canadian company's letter of intent.
Dioki said that it had informed its main creditors of the letter and that it would consult with them about ways to see through the deal with the Canadian company.
Some ten days ago, Dioki confirmed that some of its creditors had launched a forced collection of their claims towards Dioki and that talks were under way with key creditors as well as that a programme for Dioki's restructuring had been made for that purpose.
The Economy Ministry has been involved for some time in efforts to normalise the operation of Dioki Grupa. Some ten days ago, the ministry confirmed receipt of a statement from the majority owner of Dioki Grupa, Robert Jezic, in which he expressed readiness to accept such a restructuring programme that was acceptable to the creditors.
Based on that statement, the Ministry will continue talks with the creditors, primarily commercial banks, so that Dioki Grupa's operations could continue, the Ministry said.
Representatives of trade unions active in Dioki today sent a letter to Economy Minister Djuro Popijac asking for help regarding the restructuring programme and problems with the payment of Dioki workers' salaries.
They said that Dioki workers had not received their salaries for August and September this year and parts of last year's salaries and Christmas bonus.
The unionists also warned that production in Dioki was put on hold after the last overhaul because the company's bank accounts were blocked by the creditors and deliveries of raw materials were suspended.
They asked Popijac to help support the restructuring programme adopted by the creditors and the majority owner, as well as to mediate in the presentation of the programme offered by the new potential partner, Terra Nova Royalty Corporation.
