Tuesday, 27th May 2008, Velenje
19th Supervisory Board Meeting of Gorenje, d.d.
The Supervisory Board of the Company discussed on its today’s Supervisory Board Meeting, about the business performance for the period January – March 2008 of the Gorenje, d.d., and of the Gorenje Group. The report has been published Today, on the electronic information system of Ljubljana Stock Exchange, SEOnet.
The Supervisory Board has been informed about the project of supply and delivery of AMV (Armoured Modular Vehicle) 8 x 8 Wheeled Vehicle for the Slovenian Army and all important elements of the contract, signed by Patria, as a person placing an order and by Gorenje as supplier. Since the announcement of the cooperation on this project in June 2006, the subsidiary Indop has been established, within the business area Industrial Equipment. In the one third of the new and modern production hall in Šoštanj, Slovenia, in November 2007, the production of Wheeled Vehicle started, but the strategic development of this business area was based since the year 2001, already. The initial investment amounted to EUR 1 million, or 1.3 % of the total investments of the Gorenje, which were last year EUR 74.1 million. The estimated revenue of this project of supply and delivery of Wheeled Vehicle, will be around EUR 30 million, what is less than 2 % of the consolidated revenue of the Gorenje Group. The Supervisory Board agreed, that this project is entirely more than reasonable and economically justified strategic orientation, to venturing into other areas of business, drawing on the company's extensive wealth of experience, know-how, technology, production capacities and above average return on assets.
The Management Board