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Želba firm fighting for life and 1,300 jobs

Industrial firm Želba of east Slovakia’s Spišská Nová Ves is negotiating with three creditors who hold 80 per cent of its debt for approval of a business plan that will allow it to avoid bankruptcy and save 1,300 jobs. Želba’s main creditors are gas firm SPP, insurance firm Sociálna poisťovňa and corporate raiders Penta Group. The firm has already announced 260 layoffs at Siderit, an iron ore mine and processing facility.

Compiled by Tom Nicholson from press reports.
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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