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CORPORATE NEWS

SCA Molnlycke's profit increasing

SCA Molnlycke Inc., a wholly-owned Swedish paper hygiene products maker located in Gemerská Hôrka, produced goods worth 925 million Sk during the first nine months of this year with predictions for the year to exceed 1 billion Sk, company officials announced. Total investments of the Swedish concern into the plant have already reached 700 million Sk, far more than Molnlycke pledged when it first privatized the former state-run paper mill. Those investments, comany representatives pointed out, have exceeded the plant's profit and depreciation. Furthermore, the number of employees has grown from last year's 252 to 400. The company exports 85 percent of its output to central and eastern European countries. Typifying its export boom to the region, SCA Molnlycke's exports to Russia have gone from 15 million Sk last year to 220 million Sk so far this year.

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