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KONČAR D&ST D.D. AQUIRES THE CONTROLLING INTEREST IN THE COMPANY POWER ENGINEERING TRANSFORMATORY Sp. z o.o., CZERWONAK, POZNAN, POLAND

8. 5. 2017 Zagreb/Czerwonak, May 8, 2017. The company Končar D & ST signed a contract to acquire majority ownership (74% share) of the company Power Engineering Transformatory Sp. z o.o. (PET) from Czerwonak, Poznan, Poland.

The main activity of the Polish company PET is design, production, marketing and maintenance of medium power transformers up to 63 MVA and with a voltage of up to 145 kV. The company has approximately 60 employees and manufactures and sells transformers exclusively on the Polish market.With the conclusion of this contract KONČAR – D&ST acquires 74 % of the shares and the investment will be intended for the procurement of new equipment, the restructuring and modernization of the facility and human resources. Končar D & ST shall also, along with the financial part, invest their know-how and thus assist in the further development and creation of a modern and competitive medium power transformers factory in Poland with the expected return of investment through the medium-term period.