Croatian transformer manufacturer Končar D&ST has signed a contract worth nearly $34 million (approx. €29 million) with Austrian utility Tiroler Wasserkraft (TIWAG) for the delivery of medium-voltage transformers, the company announced this week.

The agreement covers the design, production, testing, delivery, unloading, and installation of the transformers. The first shipments are scheduled to begin in 2027, with the contract extending over several years.

Končar D&ST, a key subsidiary of Croatian industrial group Končar, said the deal further strengthens its position as a leading European supplier of medium-voltage transformers and confirms its strategic foothold in the Austrian energy market.

The announcement had a modest market impact. Končar D&ST's ordinary shares (ZSE:KODT) remained flat at €3,110, while preferred shares (ZSE:KODT2) rose 0.66% to €3,040. Parent company Končar (ZSE:KOEI) gained 0.38% to €532, making it the most actively traded stock on the Zagreb Stock Exchange by early afternoon on July 1.

The contract supports TIWAG's investments in modernizing power infrastructure, including renewable energy integration across the region.

Source: seenews.com