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CORPORATE NEWS

Petrimex nets 11 billion Sk revenue in '96

Petrimex Inc., a chemical products and raw materials trading company in Bratislava, had 11 billion Sk in revenues in 1996, of which 65 percent came from exports, company officials announced. The percentage of Petrimex's shareholders from the Czech Republic declined this year from their former dominant position of 51 percent to 1 percent owned by Československá Obchodná Banka (ČSOB).

Currently the largest stockholders are Slovnaft (33 percent), Istrochem and other chemical companies. This year, Petrimex plans an equity increase from 22 million Sk to 120 - 150 million Sk. The company aims to extend its stock exchange operations in 1997, mainly by introducing new financial operations and insurance divisons.

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