Železiarne Podbrezová (ZP) ironworks acquired a 100-percent stake in the Czech company Škoda TS, of Plzeň, which belongs to Škoda Holding through its companies ZDAS and ZP Trade Bohemia, the news wire TASR wrote.
However, the contracting parties agreed not to disclose the price, ZP Director Marian Kučík said.
Seventy-five percent will be controlled by ZDAS and 25 percent by ZP Trade Bohemia. The deal involves 372 employees in Škoda TS, receivables of Škoda Holding and the Appian Group, and real estate.
Contracts will become effective after several deferral conditions are met, including the approval by the Czech anti-monopoly office.
Škoda TS is ZP's third acquisition in the Czech Republic, after the companies ZDAS and TTS.
Škoda Holding representative Jiøí Zapletal said Škoda TS was the first of the six companies in the holding group to be sold.
Škoda TS revenues amounted to more than 621 million Czech crowns (€18.7m) last year, 44 percent of which were supplies for sugar refineries, 17 percent vulcanisation presses for car tyres, and 15 percent supplies for steel-rolling plants.
Compiled by Beata Balogová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
24. Mar 2004 at 10:08