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CORPORATE BRIEFS

TAZ Sipox announces programme changes

The President of the company Sipox Holding a.s. Bratislava, Jozef Majský, denied an unofficial report on the alleged sale of one of the acquisitions of Sipox Holding - Trnava Car Factory (Trnavské automobilové závody, TAZ) Sipox a.s. Trnava, producer of the TAZ 1203 van - to one of the leading members of the Trnava entrepreneurial group, Vladimír Poór. "It is not a sale but an entry of Vladimír Poór into the company," stressed Majský, adding that "when Poór hinted that he was able to get new orders for the company, I knew this was the only possibility to avoid the closure of the factory and the subsequent dismissal of its employees." The automobile company TAZ Sipox recently recorded a considerable decrease in the sales of its products. Majský attributed the drop to the political situation which, according to him, has meant that business contracts are based on political lobbying. He said he did not see the production of automobiles as the main focus of the production programme in the future. The new production structure should be aimed at individual automobile components or bigger aggregates for other automobile companies.

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