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Board changes at Nafta Gbely

Several board members were replaced in the Nafta Gbely oil company yesterday. The changes were initiated by the consortium of Gaz de France and Ruhrgas which owns 49 percent of Slovenský Plynárský Priemysel (SPP), itself the majority shareholder in Nafta Gbely, according to insiders.

"The initiative to change the members of the board came from investors, after re-evaluating the activities of SPP subsidiaries. The main argument was for better operation of the business," Finance Minister Robert Nemcsics told the financial daily Hospodárske noviny.

The company made losses of more than Sk120 million (€2.9 million) last year.

Compiled by Conrad Toft from press reports.
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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