CORPORATE NEWS

Solivary builds new plant

Solivary Inc., a top salt producer located in Prešov, is preparing appendices to its contracts with suppliers who are anticipating the construction of a salt mining plant that will triple the company's production, company officials said. The main reason for the appendices is to permit the drawing of the remaining funds from a 1.2 billion Sk loan the company obtained from Credit Lyonnais Bank Slovakia in June 1996. Solivary has already drawn 700 million Sk in technology supplies from firms such as Eva Therm Zurich, Chema Erfurt, and MVM Deutsch Mannheim. The plant, located in Zbudza, an area near Prešov ,is planned for completion in March, 1998.

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