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Bardejovské Kúpele seeks strategic investor

With management having decided again to change the company's organizational structure, Bardejovské Kúpele, Inc., a group of health spas located in Bardejov in northeastern Slovakia, is now looking for a strategic investor, company officials announced.

According to a report in the August 6 edition of the economic weekly Trend, Prameň Inc., Bardejov acquired a 58 percent stake in the spa network at the beginning of 1997, and promptly removed the executive board. In the executive-level swap, Jaroslav Komora, chairman of the company's board of directors, became one of Bardejovské Kúpele's owners and Ján Dzivý took Komora's place as chairman of the board. That switch lasted about six months. At the beginning of July, Komora assumed the director responsibilities and Dzivý became the economic director.

Then the board shuffled the organizational structure again by recalling all departmental executives, Trend reported. This year's investment in reconstruction is planned at 9 million Sk. In 1996, the spa made a profit of 12.5 million Sk, and the company expects a further increase of 7.5 million Sk this year. Komora said that the company is looking for a strategic investor who would pump between 150 to 200 million Sk into building and reconstructing the spas' facilities.

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