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BUSINESS SHORTS

Another textile company to close

FOLLOWING the closure of Ozeta Neo in Tornaľa on August 31, OZKN Prešov has become the latest Slovak textile company to cease production.

The company entered bankruptcy proceedings on September 28, the Pravda daily wrote. All of the nearly 400 employees will likely become jobless. Even if the company keeps part of its production, the labour force will be reduced to one-third.

OZKN blames its decline on the loss of a key client - Induiko, which moved its production to China.

"We sew 600 suits for it daily," company director Mária Migašová told the daily. "Without this client or another similarly big client, we do not have a chance to continue production."

Earlier this year, the company held talks with potential foreign clients to avoid the closure. But they could not agree on a price.

The only major client OZKN has left is Bernard Zins of France. OZKN manufactures 600 pairs of trousers and 50 jackets for them daily. That is just enough to keep one-third of the current employees on the payroll.

Compiled by Spectator staff from press reports

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