Spectator on facebook

Spectator on facebook

CORPORATE BRIEFS

Trafigura BV Ltd wins lease contract for Kovohuty Krompachy

Swiss oil and metal traders Trafigura BV Ltd. was announced on July 22 as the winner of a tender to lease the property of Slovakia's ailing copper producer, Kovohuty Krompachy. From the original five bidders, only three took part in the final tender, which was called by state bank VÚB.

Kovohuty Krompachy was declared bankrupt, and a receiver appointed, at the beginning of this year.

According to available information, Trafigura BV Ltd. will now take over part of the company's employees, while the lease contract gives the Swiss investor the pre-emptive right to buy the whole company.

Kovohuty Krompachy got into difficulties last year when world copper prices dropped to their lowest levels in recent memory. The firm became deeply indebted to the VÚB bank, and at the beginning of 1999, VÚB took control of the company by calling in its loans and forcing Krompachy to forfeit the shares it had provided as collateral.

Top stories

Letters can be checked at work – but is it legal?

The recent scandal surrounding the parliamentary office opening and checking the post of MPs has opened the issue of postal privacy – which also concerns emails or text messages – guaranteed by the law.

Andrej Danko, speaker of parliament

New investor to create 500 jobs in Nitra

A company following the Jaguar Land Rover carmaker to Nitra plans to create 500 new jobs and invest €17 million.

Tha Jaguar Land Rover draws also other investors to Nitra.

Blog: A line does not always form

A foreigners' real experience at the foreigners’ police department in Bratislava.

The foreigners’ police department in Petržalka

Coalition SNS seeks mandatory 13th salary

The business sector claims that such a step would lead to speculation and slow the growth of wages.