IN SHORT BUSINESS

Matador to establish Ethiopian tyre plant

SLOVAK car-tyre producer Matador, of Púchov in the Trenčín region, will establish a joint venture, MATADOR-ATC, in Ethiopia with the local company ATC - Addis Tyre Co. The agreement will be officially signed in Addis Ababa on May 27, the news wire TASR wrote.

"The Ethiopia project brings us new possibilities for applying 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, Štefan Rosina.

Matador reported an after-tax profit of Sk186 million (€4.6 million) in 2003 on revenues of Sk9.3 billion (€232.1 million).

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