CORPORATE BRIEFS

Lafarge unhappy with Považská Cementáren brass

Officials with French cement company Lafarge said they were deeply dissatisfied with the results of a September 29 shareholders' meeting at Slovak cement maker Považská Cementáren.

Lafarge representative Peter Laube said that Považská's management refused to supply information about the company's results or the contracts it has signed at the meeting, arguing that these were business secrets. Lafarge, a world leader in the production of construction materials, has threatened legal action.

The root of Lafarge's discontent with Považská's management lies in a quarrel over the August 23 sale of a 70.4% stake in the factory to a German rival, construction company Berger-Holding GmbH. Despite several attractive offers from Lafarge, the previous owner of the Považská stake, Portland Cement, refused to deal with the French firm, preferring instead the German Berger company, which is not involved in cement production.

Through the sale, Berger expanded its activities to Slovakia from existing operations in Germany, Austria and the Czech Republic. The deal is currently being investigated by the Slovak Antimonopoly Office. Berger also owns a 25% stake in the Slovak cement maker Cemmac in Horne Srnie.

Lafarge's Laube has also questioned why profits at Považská have fallen to a fraction of their level before the firm's 1996 privatisation. The explanations of Považská management, he said in May this year, were "not convincing," especially given the large profits Portland cement had made from its Slovak operations.

Get daily Slovak news directly to your inbox

Top stories

News digest: Security Council will meet to discuss nationwide testing

Overview of news from Monday, October 19, 2020.

PM Igor Matovič announcing some details about nationwide testing on October 18.

PM wants to test everyone, Kotleba already positive in neo-Nazism

Nationwide testing is less utopian than the blackout but it is driven by the same ambition.

PM Igor Matovič shows the antigen testing kit that should be used in the nationwide testing project in Slovakia.

Matovič keeps falling. The effect of the dispute with its coalition partner is hard to guess

The senior coalition party was defeated by ex-PM Pellegrini’s movement, the Focus poll shows.

PM Igor Matovič

UPDATED: Nationwide testing will be secured by the army

Foreigners living in Slovakia will be able to get tested too.

Illustrative stock photo