Boat Maker Seaway to Restart Production after Recapitalisation
Published on 4 november 2014The firm was recapitalised with EUR 1.2m, of which EUR 570,000 was provided by KD Group and the rest were debt-to-equity conversions by remaining shareholders Co-founder and co-owner Japec Jakopin confirmed for the STA that the recapitalisation had taken place and expressed hope that production will go back to normal.
Seaway director Bogdan TopiÄ told business daily Finance that nearly EUR 600,000 in fresh capital would be enough to complete outstanding orders - eight eco-friendly Greenline boats.
Nonetheless, the firm expects another recapitalisation by a new foreign partner by the end of the year. Meanwhile, the company is also looking for a new strategic partner, as KD Group plans to sell its 47.5% stake.
Source: SloveniaTimes
Photo sources: Boattest, Trademarkia
