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Medium-Term Reconstruction Plan for Elan Endorsed

Ljubljana, 12 April - COMPANIES/ELAN/RESTRUCTURING
Privredna banka Zagreb (PBZ) endorsed the medium-term restructuring plan for the sports equipment maker Elan in March, stopping all talks with potential investors and buyers. For the time being Elan is therefore no longer on sale. PBZ decided to back the plan financially and provide funding for current production and new investments. The restructuring plan proposes cost-reduction measures, better marketing and distribution to help the company operate at profit in two-to-three years' time.

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