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Foreigners control biggest Slovak firms

Slovakia is dependent on big companies, many of which are owned by foreign investors, the daily Hospodárske Noviny wrote on September 7.

Sales of the five biggest companies jumped over Sk600 billion last year and exceeded one-third of the GDP, the Deloitte company reported.

These companies employed 33,800 people last year. More than 50 percent worked in U.S. Steel Košice, which is the biggest private employer in the country. Its owner is the American U.S. Steel Corporation.

Volkswagen Slovakia, a branch of the German Volkswagen carmaker with plants in Bratislava and Martin, was the No. 1 company in Slovakia in terms of sales.

Oil refiner Slovnaft is the second-biggest company. The Hungarian MOL group holds the majority stake of Slovnaft.

The SPP gas utility SPP, with Gas de France and E.ON Rurhgas holding managerial control of a 49-percent stake, is the fourth biggest company, followed by Samsung Electronics Slovakia, owned by South Korea’s Samsung company.

-SITA

Compiled by Zuzana Vilikovská from press reports
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