Shoemakers without lasts
Article Abstract:
Czech Republic: According to the Czech Shoemaking Association, the total volume of Czech shoe production decreased by 75% to 15 mil pairs in 1998 compared to 60 mil pairs in 1989. The domestic market has been affected by a decrease in the purchasing power of inhabitants and stagnation in demand, which was 3.2 pairs per inhabitant and year in 1998 compared to 4.6 pairs in 1989. About 33 mil pairs of shoes per year are sold in the Czech Republic currently. Only 15% of the quantity are represented by domestic production. More than 50% of the Czech shoe supply is represented by goods from Asia and 35% by expensive shoes from West Europe and shoes from other countries. About 10-15% of annual Czech shoe consumption are represented by illegal shoe imports, 4-6 mil pairs. Czech shoe exports have been decreasing since 1989. The Czech Republic exported 12.5 mil pairs worth 4.3 bil Kc in 1998 compared to over 17 mil pairs worth 5.6 bil Kc in 1995. The volume of Czech shoe imports increased to 31 mil pairs worth 4.8 bil Kc in 1998 compared to 25 mil pairs worth 3.5 bil Kc in 1995.
Publication Name: Ekonom-Tydenik Hospodarskych Novin
Subject: Business, international
ISSN:
Year: 1999
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Rescue without security
Article Abstract:
CKD Vagonka (Studenka, Czech Republic), rail-vehicle manufacturer, will sell its wagon manufacturing to Thrall Car (TC) (US) in 1999. It has to do so for financial reasons although originally it looked for a strategic partner. TC, which is not interested in passenger car manufacturing, will pay 450 mil Kc for the wagon capacities. A part of the means will be used to cover Vagonka's debts, which amount to about 1.3 bil Kc. CKD Vagonka's car manufacturing will be moved, most likely to the premises of the automotive company Tatra (Koprivnice, Czech Republic) to minimise the effect on employment in the region by saving 300 jobs. The move will require about 400 mil Kc, which should be provided by Konsolidacni banka (Czech Republic) within a governmental revitalisation programme. CKD Vagonka plans to supply 10 passenger cars to Ceske drahy (CD) (Czech Republic), Czech Railways, in 2000. CD has also awarded CKD Vagonka a contract on three three-car sets for suburban transport but has problems to find means for payment.
Publication Name: Ekonom-Tydenik Hospodarskych Novin
Subject: Business, international
ISSN:
Year: 1999
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Without Junk and without Chemapol
Article Abstract:
Aliachem (Prague, Czech Republic), chemical firm, wants to find a strategical partner that would buy 16% of its shares with a nominal value of 1.7 bil Kc. The pre-condition of the acquisition is that Aliachem will resolve the financing of the disposal of old environmental burdens, the worth of which is estimated at 3.5 bil Kc. Aliachem was established with a stock of 10.7 bil Kc as of 01 January 1999. The share of its indiviual production plants, which were independent firms by the end of 1998, in Aliachem's stock is as follows: Synthesia (Pardubice, Czech Republic) 5.7%, Moravske chemicke zavody (MCHZ) (Ostrava, Czech Republic) 19.25%, Technoplast (Chropyne, Czech Republic) 10.28%, Fatra (Napajedla, Czech Republic) 8.92%, and FSG (Zlin, Czech Republic) 8.3%. Chemapol Group (CHG) (Prague, Czech Republic), which set up Aliachem, now holds only a 9% stake. Aliachem itself holds 16% of its shares, the rest being owned by banks, directly or as pledge for CHG's credit.
Publication Name: Ekonom-Tydenik Hospodarskych Novin
Subject: Business, international
ISSN:
Year: 1999
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