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PPS Detva buyer signs deal

Kremnica based company Sitno Holding has signed a contract on the sell of bankrupt engineering company PPS Detva Holding on Friday. Its new owner Ľudovít Černák promised to specialize on civilian production and renamed the company to PPS Group. He promised that after Slovakia enters NATO, PPS would become a global producer of special technology. Sitno Holding has bought the company with its 550 employees for Sk150 million (€ 3.6 million) and see the company's future in cooperation with Swedish Volvo carmaker.

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

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