Croatian-Finnish Joint Venture Established in Rijeka

Croatian Tekol Teri(Link to another website.) (Opens New Window) and Finland’s SKS Toijala Works(Link to another website.) (Opens New Window) signed an agreement in the beginning of February to set up a joint venture, SKS TT, for production of metal components intended for machine manufacturers.

Rijeka-based Tekol Teri, established in 1991, is focused on metal processing and engineering. SKS Toijala Works operates in machine building and other metal industries. The founding companies expect the income of the joint company to reach three million euro in the first year will and employ 55 people. The company’s income is projected to rise 30% annually in order to reach 8.6 million euro by 2012. The number of employees is planned to reach 112 in three years.