September 13 (SeeNews) - Croatia's financially troubled shipyard Uljanik, the leader of the Uljanik Group, said on Thursday its bank account has been unblocked.
The company provided no further details in a filing to the Zagreb Stock Exchange.
Also on Thursday, Croatia's prime minister, Andrej Plenkovic, announced to the media that wages to Uljanik group employees are being deposited today.
Uljanik's bank account was frozen on September 3 after it lost four vessel construction deals.
The already struggling company suffered a serious financial blow when Automarine Transport Inc. and Siem Shipping Inc., both units of Siem group registered on the Cayman Islands, terminated a total of four contracts due to Uljanik's inability to deliver the ships in the agreed timeframe.
Just a few days earlier, 4,500 employees of the group ended a 10-day strike after they received their delayed July salaries.
Uljanik d.d. is the parent company of the Uljanik Group which comprises 12 subsidiaries.
Uljanik employs some 1,800 people and has been in financial difficulties for several years due to the adverse effects of the global financial crisis on the shipbuilding sector in general which has led to a drop in orders for new vessels.