Nova Hut terminates a contract

Article Abstract:

Nova hut (NH) (Ostrava, Czech Republic), the largest Czech steel firm, has terminated its contract with ICF Kaiser (US). ICF Kaiser was to supply a decisive part of a mini-mill, which cost CEK 10 bil and was one of the highest investments in the Czech industry. NH expects ICF Kaiser to pay USD 46 mil in recompense for the reasons of troubles during the commissioning of the mini-mill. The mini-mill was to start its ful operation in Nov 2000 but it is still under pilot operation. NH has to produce plates and sheets with its old rolling mill for the reason of the troubles. The costs on the commissioning of the mini-mill have increased by CEK 1.5 bil compared to estimates. NH was not able to decrease the number of its employees. It was to dismiss about 700 employees after the commissioning of the mini-mill. The main supplier of the technology for ICF Kaiser was Tippins (US), which has been under bankruptcy proceedings since 2000. The mini-mill is ICF Kaiser's first investment project of this kind, which has never been verified in practice. ICF Kaiser was to finish the delayed final testing till the end of 2001 but it did not try to repeat the tests.

Capital expenditures, Iron and Steel Mills, Blast furnaces and steel mills, Blast Furnaces & Steel Mills, Nova Hut Valcovna za studena spol S.R.O., ICF Kaiser International Inc., ICFI

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Vitkovice is awarded an important contract

Article Abstract:

Vitkovice (Ostrava, Czech Republic), metallurgy and engineering firm, has been awarded a state contract. The firm will produce three large-capacity tanks for an oil substance warehouse in Nelahozeves, the Czech Republic, at its power engineering division. Each of the tanks will have a capacity of 125,000 cu mt. The contract is worth nearly CEK 400 mil. The power engineering division has also won a tender for the supplies of bended pipes for a heating plant in Elbistan, Turkey. The division has 600 employees in 2001 compared to 1,200 employees in 2000. It expects a turnover of CEK 800 mil in 2001, CEK 200 mil more compared to 2000.

Special warehousing and storage, not elsewhere classified, Other Warehousing and Storage, Storage Facilities NEC, Vitkovice, Warehousing, Warehouses

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TOS Svitavy gets to America

Article Abstract:

TOS Svitavy (Svitavy, Czech Republic), engineering firm, will arrange a contract with the wood-working machine manufacturer Mereen Johnson (MJ) (US). MJ should help TOS assert itself on the US markets. TOS wants to supply rip saws to the US. The hitherto volume of TOS's supplies to the US was minimum. The firm should offer its rip saws under the trade mark Mereen Johnson in the US.

Woodworking machinery, Wood Products Machinery, Sawmill and Woodworking Machinery Manufacturing, Machinery industry, Woodworking industry, TOS Svitavy a.s., Mereen-Johnson Machine Co.

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