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Matador to establish tyre plant with ATC in Ethiopian capital

Slovak car-tyre producer Matador, of Puchov (Trenčín region), will establish a joint venture, MATADOR-ATC, in Ethiopia with the local company ATC - Addis Tyre Co.

The agreement will be signed in an official ceremony in Addis Ababa on May 27, the news wire TASR wrote.

"The Ethiopia project brings us new possibilities to apply our know-how. We found a serious partner with a common interest in building a modern plant for the production of tyres in Ethiopia," said Matador’s president, Stefan Rosina.

The basic goal of the joint venture is to establish a leading position on the Ethiopian market, and that of the countries of eastern and southern Africa (COMESA) as a whole.

As well, the signing ceremony will be attended by representatives of the Ethiopian Public Enterprise Supervising Authority, Minister of Trade and Industry Girma Birru, and Slovak Ambassador to Kenya Štefan Morávek.

Matador made an after-tax profit of Sk186 million (€4.64m) in 2003 on revenues of Sk9.3 billion (€232.1 million).

Compiled by Beata 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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