Important information about investment options in area
of Šibenik - Croatia

Opening ceremony 1937.

The first Aluminium in Balkans – July 1937.

Inaugurational opening
high ranking state officials and I.R.Ivanovic

Road leading to the entrance of the factory

Christmas celebration
gifts to workers donated by I.R.Ivanovic

History of IVANAL

ImageThe basic capacity of the factory were built in the interval 1936 - 1940 (the electrolysis in 1937; hydrated alumina operating sector in 1939). Since 1940 the erected establishment reached the installed capacity of 3000 t/y of hydrated alumina and 3000 t/y of aluminum. In the two electrolysis buildings there were 54 electrolytic ovens with the Soderberg anodes installed.

The proper thermoelectric plant, foundry and other assisting buildings were built. It employed 400 hands. After the II world war the factory was confiscated from the owners by the new founded communist regime
(by the same model as in all other cases - withouth any compensation). Beside the fact that the factory was in that time modern industrial establishment, the development of the factory was neglected in the communist country, thus in the first twenty years since the war there was no important technological inovation. The production of hydrated alumina was closed in 1971 and the electrolysis was closed in 1987.

ImageFrom 1976 to 1987 the establishment for processing secondary aluminum with the capacity of 12000t/y was built consisting of two foundry furnaces, and in 1985 the establishment for aluminum die cast production was built with three presses of 800, 400 and 250 tons. Since 01.01.1964 the factory in Lozovac was integrated with the factory in Ražine (Šibenik, Croatia) as a part of the system of "TVORNICA LAKIH METALA" Šibenik.

Since 1991 the factory in Lozovac was organized as a company of limited responsibilities in the ownership of "TVORNICA LAKIH METALA" d.d. - Šibenik and functioned under the name "TVORNICA ALUMINIJA LOZOVAC" d.o.o. During the "Independence war" the production was reduced. In 1996 it was 2540 t, and the Company was operating with loss. In that period the factory employed 200 hands. Since 2000 "TVORNICA ALUMINIJA LOZOVAC" d.o.o. lost its legal status as a company of limited responsibilities and became operating sector of "TVORNICA LAKIH METALA" d.d. - Šibenik.

Since August 2003. "TVORNICA ALUMINIJA LOZOVAC" was taken over in the process of property restitution to operate as a private company under the name "IVANAL" d.o.o.

The restitution of the factory

After the achieved independence of the Republic of Croatia, and with the purpose of gaining back the factory, the following steps were taken..

1992. The report submitted to the Ministry of Justice and Administration (in accordance with the Act of evidencing the former owners and the taken away property - NN 23/91). Also in 1992: Managing board of "TVORNICA LAKIH METALA" (further on: TLM) Šibenik decided about the reservation of shares for the heirs of former owners.
1993. Croatian Privatization Fund (further on: CPF) decided that the value of the reserved shares is the equivalence of 11,638,000 DM (German Marks).
1997. The claim for the confiscated factory was officially handed (in accordance with the "Law for compensation for the property taken away during the Yugoslav communist government", NN 92/96 - further on: Restitution Law)
The judgment of the Administration Court of the Republic of Croatia which orders the carrying out of the solution, in accordance with the plea submitted by Dr. Marko Ivanović, to repeat the process of restructuring of the Company (TLM Šibenik).
A solution proposition handed to the Ministry of Economy of the Republic of Croatia.
1998. the Department of property-legal issues (County Šibensko-Kninska) decided to confirm the legal interest of Dr. Marko Ivanović to inherit the confiscated property of Dr. Ivan Rikard Ivanović.
1999. The Supreme Court of Croatia refused the plea submitted by Dr. Marko Ivanović asking for the denial of the 1946. judgement (No K-645/45) in the part which speaks about the confiscation of the Factory. 
It enabled Dr. Marko Ivanović to present his case in front of the European Court of Human Rights in Strasbourg.
2000. After Revision by Ministry of Justice the Decission on succession and compensation on account of confiscated Factory became final.
2002. A public bidding was announced by the CPF and the company TLM d.d. where they were willing to sell properties (land and premises) that presented the confiscated factory.
Administrative procedure in accordance with the restitution law was ended stating that Marko Ivanović PhD is entitled for compensation in reserved shares of the company TLM d.d.
2003. In Settlement contract was signed between CPF, TLM d.d. and Marko Ivanović PhD where the confiscated factory was given back to the heir of the original owners.

NN = Narodne Novine - Official bulletin of the Republic of Croatia

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