The Office for Fair Trading agrees support for Velveta
Article Abstract:
Velveta (Varnsdorf, Czech Republic), textile company, received agreement for an exception from a ban on public support in Apr 2001. The exception was agreed by Urad pro ochranu hospodarske souteze (UOHS) (Czech Republic), Office for Fair Trading. The firm's investment incentive in the form of an income tax reduction will not exceed CEK 142.6 mil and will not be higher than 40% of the total value of its investment costs. Velveta plans to invest a total of CEK 359.5 mil. CEK 357.5 mil of the sum will be invested in technology.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
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Tepna sees record proceeds and a loss
Article Abstract:
Tepna (Nachod, Czech Republic), textile company, increased its proceeds for the sales of its products by 20% to CEK 381 mil in 2000 compared to 1999, according to preliminary results. The firm's 2000 economy resulted in a preliminary loss of CEK 18 mil compared to a profit of CEK 0.177 mil in 1999. The main reason for the loss were exchange rate losses. The company's main production programme includes cotton yarn and shirting.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
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The forwarding firm Danzas raises proceeds
Article Abstract:
Danzas (Ostrava, Czech Republic), forwarding company, saw proceeds of CEK 2.075 bil in 2000, according to audited results. The sum is 51.02% higher compared to 1999. The firm's pre-tax profit increased to CEK 53.78 mil in 2000 compared to CEK 24.91 mil in 1999. Danzas is one of the largest domestic forwarding firms.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
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