When a giant comes
Article Abstract:
Philips (Netherlands), electronic equipment manufacturer, will start the construction of a plant worth 604 mil EUR, 21.5 bil Kc, in Hranice, the Czech Republic. The classic colour picture tube production plant will be a part of the group Philips Display Components, which is the largest picture tube manufacturer in the world. The plant with a planned capacity of over 8 mil picture tubes per year will become the second largest plant of its kind in the world. The plant will export 59% of its production to Western Europe. Philips will invest about 7 bil Kc and will set up 1,000 new jobs in Hranice during the first stage. The plant should employ 3,250 persons within eight years. Besides, a large research and development centre will be set up at the new plant. Besides tax holidays, Philips will be exempt from customs duty for technology imports and will receive a subsidy for the setting up of new jobs and credits for training and requalification. Philips will receive investment incentives worth a total of 1.6 bil Kc from the Czech government.
Publication Name: Ekonom-Tydenik Hospodarskych Novin
Subject: Business, international
ISSN:
Year: 2000
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The birth of a giant
Article Abstract:
Prvni severozapadni (1.SZT) (Komorany, Czech Republic), heating firm, and Severoceske teplarny (SCT) (Most, Czech Republic), heating firm, are merging. A new company called Prvni severozapadni teplarenska (Czech Republic) will be set up within the merger. The majority shareholder in both the entities is Horizon Energy Development (HED), wholly-owned subsidiary of HED Inc., which is owned by the gas company National Fuel Gas Company (NFG) (US). Both the heating firms have net assets worth nearly 4 bil Kc together.
Publication Name: Ekonom-Tydenik Hospodarskych Novin
Subject: Business, international
ISSN:
Year: 2000
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Giant across the border
Article Abstract:
Slovnaft (Bratislava, Slovakia), petroleum refining firm, has had a 36.2% stake acquired by the petroleum and natural gas company MOL (Hungary). MOL paid 262 mil USD for the control package of shares. In two years after subscription to new shares, MOL will have an option to buy another at least 50% of shares. Slovnaft saw a loss of 2.4 bil Sk in 1999 compared to a profit of 76 mil Sk in 1998.
Publication Name: Ekonom-Tydenik Hospodarskych Novin
Subject: Business, international
ISSN:
Year: 2000
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