JIP: to divide and then to sell
Article Abstract:
Jihoceske papirny (JIP) (Vetrni, Czech Republic), paper group, will be divided into individual production plants and will be sold. Reasons are the firm's long-term unprofitability and its unsalability as a whole. The step was decided by the group's new owners, which are the funds of the bank CSOB (Prague, Czech Republic). CSOB acquired JIP, which was connected with the pulp company Biocel (Paskov, Czech Republic), after the fall of Investicni a Postovni banka (IPB) (Czech Republic). JIP has sold the profitable firm Biocel to the group Heinzel (Austria). The group JIP associates a plant in Vetrni, which manufactures printing and wrapping paper. The plant, which is the healthiest part of JIP, saw a profit of CEK 22 mil under proceeds of nearly CEK 25 bil in 2000. The group's plant in Loucovice, Czech Republic, manufactures hygienic paper. CEK 0.5 bil were invested in the plant in 1996 but the investment has not been recovered. The group's plant in Cervena Recice, Czech Republic, manufactures hygienic paper. JIP's special paper plant in Vrane, Czech Republic stopped its production in 2000. JIP has a total of 1,300 employees. Its products line includes paper for book and newspaper printing, toilet paper, hygienic drying-up cloths, handkerchiefs, wrapping paper, paperboard and pulp.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
The growth of industry speeded up in Mar 2001
Article Abstract:
Czech Republic: The volume of industrial production increased by 9.8% in Mar 2001 compared to the same period in 2000. The growth was 12% after the exclusion of the influence of working days. Industrial firms extended their production by 10% for Jan-Mar 2001 compared to the same period in 2000. The growth is influenced mainly by the extension of the activities of foreign investors. The fastest growing sectors are the automotive and electrical engineering industries, which include the majority of foreign investors. Further reasons for the growth of the sector are the completed restructuring of the majority of traditional Czech firms and the non-worsening of their results. Nearly 40% of the output of the domestic economy are represented by the domestic industry.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: After Kripps and Hercules. The war of independence. Familiar problems
- Abstracts: On line and on time. The future is digital. Legislation in moderation
- Abstracts: Philips wants to invest another CEK 20 bil. The investor of the year is the concern Philips. Schmalbach wants to invest in Plzen
- Abstracts: Booking total transaction value and turnover. The ' building block' in Europe
- Abstracts: Hornbach prepares strong expansion. The next budget: a deficit of nearly CEK 20 bil