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CORPORATE NEWS

Baňa Záhorie reduced its debt in 1997 by 61.5m Sk

Baňa Záhorie Inc., Holíč, a brown coal mining company, increased the average monthly coal extraction from last year's 20,000 tons to 25,000 tons in the first half of this year. During the first eight months of 1997, the company reduced its debt by 61.5 llion Sk. It now employs 358 people (270 in 1993), and plansto further increase their number to 400 in 1998. The majority owner of the company with a 51 percent stake is Baňa Záhorie Holíč Inc., in whioch 34 percent stake is held by the company's employs.

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