MMC has learned that representatives of the Italian fund have met with Cimos’ boards, Slovenia’s bad bank, and union reps. Sašo Ristič, the head of the regional chapter of the Metalworkers and Electricians Labour Union (SKEI), said that Palladio Finanziaria is still interested in buying Cimos because it believes “the deal is a bargain”.

The details of the offer are not yet known. The meeting was held behind closed doors, and the participants declined to comment afterward. Some media outlets have said that US multinational company HTT, the largest buyer of Cimos’ products, is pushing Palladio Finanziaria to buy Cimos. TV Slovenia reporter Elen Batista Štader pointed out that Palladio Finanziaria already owns a company that manufactures parts for HTT.

Unions not trying to preserve all jobs
“Job protection is our main focus,” said Ristič, adding that the unions are not trying to preserve all jobs. The Italian equity fund set out a vision for the future of the car parts maker, but it didn’t say how many jobs it expected to cut.

Trade union representatives from Cimos’ subsidiaries in Croatia said after the meeting that the talks focused primarily on job preservation. They said it was crucial that Palladio Finanziaria is still interested in buying the whole company rather than just parts of it. The talks with the Italian equity fund are expected to continue on Thursday.

Economy minister Zdravko Počivalšek, who said that the state could rescue Cimos after the Italian fund had announced its decision to withdraw from the bid, has not yet commented on the issue.

G. K., L. L.; translated by D. V.