Uljanik shipyard

Kuzey Star completes takeover of Croatia’s Uljanik shipyard

YardTurkish shipbuilder Kuzey Star Shipyard has signed the agreement to acquire Uljanik Brodogradnja 1856, the shipyard in Pula, Croatia, following the conclusion of the tender process.
The sale and share transfer agreement covering the majority stake was signed by Milan Plecaš, manager of Croatia’s Centre for Restructuring and Sale (CERP), on behalf of the Croatian state, and Tuncay Imral, chairman of the board, on behalf of Kuzey Star Shipyard Denizcilik.

Croatia’s Minister of Economy, Ante Šušnjar, and Türkiye’s Ambassador in Zagreb, Nurdan Erpulat Altuntas, attended the signing ceremony.

According to CERP, the transaction covers 97.13% of the company’s shares and is valued at EUR 12.05 million.

The Pula acquisition gives Kuzey Star a foothold in the European Union and continues the Turkish yard’s international expansion. In January this year, the company signed an agreement with the Syrian government to establish a shipyard in Tartus.

Founded in 1856, Uljanik is one of the oldest shipyards in the world still in operation. The yard went into bankruptcy in 2019 after years of financial difficulty, and Uljanik Brodogradnja 1856 was subsequently established to continue shipbuilding activities at the site.

okt 23 2026