A typhoon in underground mines
Article Abstract:
OKD (Ostrava, Czech Republic), mining firm, plans to extract over 11 mil t of coal per year in 2002-2003, 1.2 mil t less compared to 1998. The firm will see a loss in 1998. Reasons are higher extraction than sales and a high exchange rate of the Czech crown. OKD's total production volume is 12.5 mil t. About 4.5 mil t of the volume are exports. The company will see a loss of about 500 mil Kc from exchange rate influences in 1998. OKD has a stock of 24.3 bil Kc. The company has a 48.5% majority stake held by Karbon Investi (Czech Republic). OKD holds a 100% stake in K.O.P. (Czech Republic), which holds more than a 70% stake in Ceskomoravske doly (Kladno, Czech Republic) and a 80% stake in the export company Metalimex (Czech Republic).
Comment:
OKD (Ostrava, Czech Republic), mining firm, plans to extract over 11 mil t of coal per year in 2002-2003, 1.2 mil t less compared to 1998.
Publication Name: Ekonom-Tydenik Hospodarskych Novin
Subject: Business, international
ISSN:
Year: 1998
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SAIL, CIL FOR EASY MONEY TO FUND VRS
Article Abstract:
Steel Authority of India Ltd (SAIL) and Coal India Ltd (CIL) will undertake extensive voluntary retirement schemes by taking advantage of the easy financing schemes proposed in the Union Budget for 1999-2000. CIL will require funds of over Rs1300 crore for implementing VRS in two of its subsidiaries - Eastern Coalfields Ltd and Bharat Coking Coal Ltd. SAIL is expecting to get funds from the National Renewal Fund. It plans to reduce employee strength by 40,000 over the next 3-5 years. (khr)
Comment:
Steel Authority of India Ltd (SAIL) and Coal India Ltd (CIL) will undertake extensive voluntary retirement schemes by taking advantage of the easy financing schemes proposed in the Union Budget for 1999-2000.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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