GK Međimurje

Građevni kombinat 'Međimurje'^[1] (English: 'Međimurje' Construction Company), also known as GK Međimurje, was a large Croatian legal entity whose core business was construction and building materials industry. Based in Čakovec, seat of Međimurje County, it was one of the flagships of the economy of Međimurje region in the 1970s and 1980s as well as one of the most significant construction companies in former Yugoslavia, carrying out works on a number of large structures, from hotels on the Adriatic coast,^[2] through hospitals, schools and various office buildings in Zagreb and other Croatian cities (for example, the INA building in Šubićeva Street in Zagreb),^{[3][full citation needed]} to sports facilities, among which the most famous are those for Winter Olympics 1984. in Sarajevo.^[4] During the 1990s, the business system of GK Međimurje slowly fell into financial difficulties and most of its parts ended up in liquidation, with only a few surviving and still operating today.^[5]

Građevni kombinat 'Međimurje'

Pin badge of the company
Company type	Public company
Industry	construction, civil engineering, building materials, architecture
Founded	1 october 1963
Defunct	8 November 2010
Fate	Bankruptcy
Headquarters	Čakovec, Croatia
Products	bricks, building timber, gravel, concrete, buildings, roads, architectural engineering, construction management etc.
Total assets	HRD 1,010,603,000 (1991)
Number of employees	~8,500 (1980s)

History

The story of Građevni kombinat 'Međimurje' begins in the 1960s, as several smaller construction and civil engineering companies in social ownership were merged on 1 october^[6] 1963^[1] into a larger company called Građevno poduzeće 'Međimurje' ('Međimurje' Construction Enterprise), which was engaged in the construction of all types of buildings, including architectural design, architectural engineering, preparatory and earthworks, masonry and assembly, and the performance of installation and final works. In addition, the company included a gravel pit, a concrete plant, a brickyard and later a sawmill. Within a few operating years, the company employed around 2,200 workers and had a total revenue of 200 million dinars, with a tendency of constant growth.^[7]

A significant business development occurred in 1978 when GK Međimurje merged with Hidrotehnika,^[8] a Čakovec company specializing in hydraulic engineering, waterworks, sewerage and drainage systems. The so-called Work organization Građevni kombinat 'Međimurje' was then established with more than six thousand employees,^[1] and the business expanded to include civil engineering, energy supply, and public utility services. During the 1980s, the company had the largest scope of business throughout Croatia, but also in other former Yugoslav republics. The number of employees increased to more than 8,000.^[9]

With the independence of the Republic of Croatia, major changes occurred, first by renaming the Work organization into Social Enterprise Građevni kombinat 'Međimurje', then by converting its individual business units into 19 joint-stock companies and finally forming the Business System of GK 'Međimurje'.^[10] According to the balance sheet of 31 December 1991, company's assets were stated to be HRD 1,010,603,000, which according to the exchange rate of DEM 1 = HRD 55, amounted to DEM 18,374,600.-.^[11] The largest of the new 19 companies was Međimurje-Visokogradnja d.d., which after the transformation process on 28 May 1993 had a share capital of DEM 6,826,000,- ^[10]. In 1994 it employed 1,207 workers, generated HRK 120,727,673 of total revenue and HRK 119,225,650 of total expenses.^[12] The whole period of privatization lasted from 1992 to 2000. All of new joint-stock companies implemented the necessary legal regulations for their normal functioning.

Due to a combination of circumstances, like fragmentation of the Business System GK 'Međimurje', the situation in the construction and civil engineering market, poor management of the company, lack of adequate workforce, liquidity problems or capital accumulation failure,^[2] some of the joint-stock companies within GK 'Međimurje' ran into difficulties in 1990s and 2000s and eventually ceased to exist. The whole Business System did not survive either, and was deleted from the Commercial court register in Varaždin on 8 November 2010.^[13] However, some of the companies (for example Međimurje PMP,^[14] Međimurje-plin,^[15] and Međimurje-Tegra^[16]) managed to survive and even expand their business operations until today.

Gallery

• 
  'Belvedere' Hotel in Dubrovnik
• 
  'INA' office building in Zagreb
• 
  Sports hall in Čakovec

See also

• Construction aggregate
• Međimurska trikotaža Čakovec
• Stadion SRC Mladost, Čakovec