Cortec Corp. Doubles Investments in Europe with Acquisition of Facility in Croatia
MINNEAPOLIS — CorteCros®, a member of the Cortec® Corp. group, has acquired a new facility in Split, Croatia, from CROSCO d.o.o., a subsidiary of INA, which is a Croatian multinational oil company. CorteCros is now the 100% owner of the logistics and distribution center in Split, which has recently expanded its production facility and storage capacity. Split is now Europe's main production and distribution point for Cortec’s corrosion protection chemistries.
Cortec Corp. has 10 locations around the globe with headquarters in St. Paul, Minnesota. With this acquisition in Croatia, Cortec’s CEO and owner, Boris Miksic, doubled his business in Europe. “When we started to work on the construction and logistics of the center in Split, our goal was to position Croatia as the main strategic point in Europe for environmentally safe corrosion protection technologies. Five years later, I can proudly say that we succeeded,” said Miksic.