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CORPORATE BRIEFS

Chemolak starts production with partner in Ukraine

For the first six months of this year, the joint stock company Chemolak Smolenice generated a profit of 65.2 million Sk ($1.86 million), which is a drop of 2 million Sk ($57.1 million) from the same period last year, reported Katarína Kulhová of the company's public relations department. For the first six months of this year, Chemolak produced 15,306 tonnes of coating substances, out of which 1,540 were exported to 11 countries, mainly the Czech Republic, Poland, Ukraine, Russia and Croatia. Sales revenues reached 729.8 million Sk ($20.85 million). The registered capital of the company is 501.62 million Sk ($14.332 million).

This year, in July, Chemolak launched new production in a chemical factory in the Ukraine. The contribution of Chemolak to the joint venture was to supply project documentation, production procedures and raw materials. The Ukraine partner supplied production premises and technology, as well as employees and the distribution network. The company produces nitrocombinational enamel and synthetic lacquer for wood.

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