Nobody wants the giant
Article Abstract:
Roudnicke strojirny a slevarny (ROSS) (Roudnice, Czech Republic), engineering firm, has been under bankruptcy proceedings since 1999. Nobody is interested in the purchase of all the firm. The fall of the firm was influenced mainly by state contracts for the Czech army. ROSS developed and started to produce lorries for the Czech army on the basis of a grant. The Czech army took only 17 pieces of the lorries finally compared to the originally promised 1,500 pieces. Besides, the firm has receivables in Poland for 1998 due to the freeze of subsidies to Polish agrarians for the purchase on new equipment. ROSS has 96 employees in Aug 2000 compared to the original 600 persons. Their number will decrease to 70 employees at the end of Sep 2000. Some parts of ROSS's property have been sold successfully. Tatra (Koprivnice, Czech Republic) has shown an interest in the purchase of the know-how for the production of ROSS lorries. Johans Steel (Kralupy nad Vltavou, Czech Republic) rented ROSS's foundry. It is interested in the purchase of the foundry.
Publication Name: Ekonom-Tydenik Hospodarskych Novin
Subject: Business, international
ISSN:
Year: 2000
User Contributions:
Comment about this article or add new information about this topic:
A mining giant
Article Abstract:
OKD (Ostrava, Czech Republic), coal mining firm, will merge with the coal mining firm Ceskomoravske doly (CMD) (Kladno, Czech Republic) in 1998. Both the firms should extract about 16 mil t of coal together in 1998. The connection of OKD and CMD was started after the acquisition of a 48.45% stake in OKD by Karbon Invest (KI) (Czech Republic) in October 1998. KI's owners are the managers of CMD. According to KI, the main aim of the connection of both the largest Czech coal companies is the coordination of production and trade strategy during coal extraction in the Czech Republic to keep competition ability within the global integration of the Central European coal market. In 1998 OKD expects a loss of 300-350 mil Kc due to sales troubles. KI should make a decision on the way of OKD's restructuring by the end of 1998.
Publication Name: Ekonom-Tydenik Hospodarskych Novin
Subject: Business, international
ISSN:
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Don't keep taking the tablets. Taking sides. Taking the measure
- Abstracts: The state the boom forgot. A violent mix, land and religion. The land that time forgot
- Abstracts: Broadnet wants to install a wide-band telecommunication network. Vivendi is CEZ's telecommunication partner
- Abstracts: Cepramo wants to acquire Paramo. Norex wants to enter Paramo
- Abstracts: Primus invests in the Czech Republic. Otis invests in the Czech Republic