Spectator on facebook

Spectator on facebook

CORPORATE BRIEFS

Matador reports preliminary 1998 gross profit of 214 million Sk

Slovakia's only tire maker, Matador Puchov, reported a preliminary gross profit of 214 million Sk ($5.35 million) on sales of 7.1 billion Sk in 1998: the figure was well up on 1997's total net of 68.8 million Sk. Exports accounted for 5.7 billion Sk.

In 1998 Matador invested 228.2 million Sk into modernization, Jozef Kapec of Matador's press department said on February 18.

"The strategy of the company this year is aimed at product innovation, cost reduction, and improvements in productivity and flexibility of production and distribution systems," Kapec said. Matador projects sales of 8.01 billion Sk for 1999 while exports should reach 6.1 billion Sk.

The year 1999 is Matador's first in joint venture with the German firm Continental. The venture, known as Continental-Matador, was formed out of Matador's truck tire division, which has an annual turnover of 2.5 billion Sk. The tires produced by the joint venture will be divided according to the stakes owned by the founding companies.

Matador controls 24% in the new venture, while 76% is in the hands of Continental. Considering projected output of 2 million tires annually after 2001, this would mean 0.5 million tires for Matador and 1.5 million pieces for Continental. Tires will be sold under the brand name of a distributing company.

The 1999 turnover of the Continental-Matador joint venture is expected to be 150 million DEM (over 3 billion Sk), which should rise to 350 million DEM (over 7 billion Sk) by 2003.

Top stories

How the national emblem appeared – including so far secret communism designs

Even Slovaks often do not know why the national emblem depicts a white double-cross, and not the Kriváň peak, or the design by artist Vincent Hložník. They also do not know why it makes a difference whether it is…

Offical Slovak national emblem and colours

Bratislava Zoo will have new wolf breeding station

One of most significant investments of the Bratislava Zoo in the year 2017 will be the building of a new wolf breeding station.

Foreigners: Events around Slovakia Photo

Tips for performances and other events in the Slovak regions between February 17 and February 26, including a race on old wooden sleighs, an operetta premiere, a lot of jazz, classical and rock music, and more.

Rce in krňačky sleighing, Turecká 2017

Some food really is better in Austria, study finds

EC says its role is to monitor safety, not quality – but Slovaks want the same as Austrians, says minister.

Illustrative stock photo