Palumbo Wants to Be Uljanik’s Strategic Partner

first_imgItalian Palumbo Group has expressed interest in becoming a strategic partner of Croatian shipbuilder Uljanik. In a letter of intent (LOI) Uljanik received on January 2, 2018, Palumbo said it wants to participate in the process of the shipbuilder’s restructuring and diversification.Uljanik is seeking a loan for the purposes of corporate recovery and restructuring. As part of the restructuring process, a new partner will join the company’s ownership structure.Currently, Palumbo has several shipyards located throughout the Mediterranean. The facilities offer refit, repair and maintenance services for different types of vessels.In December 2017, another company, Croatian Kermas Energija, part of Kermas Group, expressed its interest to become a strategic business partner of Uljanik.Kermas Energija sees the potential strategic partnership as part of an integration between its subsidiary Brodotrogir and one or more European shipyards, according to local media.World Maritime News Stafflast_img read more


first_imgA DRINK and drugs addict took to selling illegal cigarettes for crime bosses in a bid to fund his habits, a court has heard.Karl Ryan (44) of 20 Burwood, Buncrana admitted selling untaxed cigarettes and rolling tobacco at 4 Cathedral Court, Church Lane, Letterkenny on February 17th 2012.There was a loss to the State of almost €1,600 in excise duty. Customs officers bought cigarettes from Ryan and found they did not have the excise duty stamp on them.In a follow-up operation officers seized 2,460 cigarettes and several pouches of rolling tobacco.Solicitor Ciaran MacLochlainn said at the time Ryan was “addicted to all sorts” and was “not the main player by any means in this.”He added: “He was paid in cigarettes for what he did.”The father of six had mixed “with the wrong people” when he decided to move to Letterkenny from Buncrana.His client had since moved back to Buncrana and was receiving help.“Mr Ryan spent eight years homeless on the streets of Dublin and there is little doubt he would have been dead had he stayed there,” said the solicitor.Mr MacLochlainn added that Ryan had no money to pay fines or the excise duty and “does not want to return to prison.”Judge Paul Kelly accepted that Ryan was being used by others and he adjourned the case for the preparation of a community service report.ADDICTION DROVE MAN TO SELL ILLEGAL CIGARETTES, COURT HEARS was last modified: September 9th, 2013 by John2Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:buncranaKarl RyanLetterkenny Courtlast_img read more