TOBACCO: Croatia’s EU Entry Will Hurt TDR’s SEE Revenues

Tvornica Duhana Rovinj (TDR), the Rovinj-based company, part of the Adris Group, Croatia’s biggest cigarette maker, sees net income falling at least 10% after it loses free-trade access to four Southeast European markets when the country joins the European Union.

CEO Davor Tomaskovic estimates the cost at €10 million. “Unless Croatia, or the European Commission, negotiates some reduction in customs with CEFTA countries, TDR may start production in one of the Balkan states,” Tomaskovic said. Customs duties will increase to 57% from 15% in Serbia and to 42% from 27% in Macedonia…

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