To recover a firm and to sell
Article Abstract:
Pal (Prague, Czech Republic), car component manufacturer, plans to export nearly 76% of its production in 2000 compared to 48% in 1999. The firm is preparing supplies to Mexico, among others. Pal's first foreign production plant should be built in Mexico by 2001. Pal supplies the production plants of the concern Volkswagen (VW) (Germany) in Germany, Belgium and Spain. Its largest domestic consumer is Skoda Auto (Mlada Boleslav, Czech Republic) of the VW concern. Pal has been extending its production since 1995 when its privatisation was completed. The number of the firm's employees remains the same, about 950-1,000. The company produces about 12,000 car-wiper electromotors per day. It is one of the largest manufacturers of the electromotors in the world. In 1999 Pal invested 200 mil Kc in its production. The volume of the firm's production increased by 40% due to the investment. Pal's development is also supported by its majority shareholder Manga International (MI) (Canada). MI bought a 70% stake in Pal in 1997. Pal was recovered in 1995-1997.
Publication Name: Ekonom-Tydenik Hospodarskych Novin
Subject: Business, international
ISSN:
Year: 2000
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Milk products firm at risk
Article Abstract:
Jihoceske mlekarny (JCM) (Ceske Budejovice, Czech Republic), milk products firm, has to face the denunciation of the State Fund of Market Control (SFMC) (Czech Republic) from a swindle. SFMC has blamed JCM that it broke the conditions of the regulation of the milk market. SFMC expects JCM to return a subsidy of CEK 75.4 mil. JCM received the subsidy for the support of its exports during 3Q 2000. Besides, JCM should pay a penalty of CEK 19.7 mil. JCM has to face an unclear situation due to the dispute with SFMC and stopped subsidies. According to a crisis script, JCM counts on the contingent closure of its plants in Prachatice and Strakonice, Czech Republic. JCM is the largest domestic milk processor and one of the largest food products companies in the Czech Republic.
Publication Name: Ekonom-Tydenik Hospodarskych Novin
Subject: Business, international
ISSN:
Year: 2000
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VP will sell a small plant
Article Abstract:
Valcovny plechu (VP) (Frydek-Mistek, Czech Republic), plate and sheet manufacturer, will sell its hot rolling mill. The plant represented 28% of the firm's total production in 1998. Three unnamed entities have shown their interest in the purchase of the plant. VP will focus on the operation of its cold rolling mill, which will process steel from a mini-mill of Nova hut (Ostrava, Czech Republic). VP saw a loss of 287.176 mil Kc in 1998.
Publication Name: Ekonom-Tydenik Hospodarskych Novin
Subject: Business, international
ISSN:
Year: 1999
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