Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Koncar, Croatian producer of the power transmission and distribution value chain, and Siemens Energy, a well-known leader in energy technology, are opening a new factory that will produce transformer tanks - a crucial part of transformers. The factory is set to open in October 2025 and will be located in Sesvetski Kraljevac, near the city of Zagreb.
In 2023, the two companies established a joint venture company, Koncar Transformer Tanks (KTK), to address the growing global demand for transformers. Koncar holds a 60% stake in KTK, while Siemens Energy owns 40%. The company specialises in the production and sale of transformer tanks.
A modern KTK factory is in the final stages of construction and will employ over 400 people, and produce approximately 160 custom-made tanks annually, tailored to specific market and customer requirements. Both strategic partnerships represent a major step forward in strengthening the domestic industry, advancing technological development, and positioning Croatia on the global map of the energy transition. The cooperation enables capacity expansion, knowledge and expertise exchange, risk sharing, and a stronger international market presence.
Eurofound (2025), Koncar Power Transformers, Business expansion in Croatia, factsheet number 203153, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/203153.