In March Brodosplit, Croatia's largest shipyard, was privatised and sold to the country's largest engineering group, Debeljak family-owned DIV. The new broom has brought in sweeping changes after decades of state ownership. DIV had spent three years preparing for the deal and has a five-year plan to make the yard competitive and profitable, which had not been its priority before. DIV executive Darko Pappo, now Brodosplit Group's chief operating officer, said the yard lost money because its management had been driven by politics, not the market. "They employed more people than necessary and vessels were built for less than cost with the difference met by state subsidies."
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