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Defence Ministry readies for joint-stock transformation

THE DEFENSE Ministry is preparing the transformation of several state enterprises into joint stock companies to boost their competitiveness on the market, the TASR news agency wrote.

"We are lowering the number of soldiers and reducing army equipment so we need to adapt our manufacturing programme to these conditions. It will be easier to fulfil new types of orders after the transformation into joint stock companies," the Defence Ministry press department said August 13.

State enterprises administered by the Defence Ministry were able to profit last year despite difficult economic conditions. Only Letecké opravovne LOBB (Aircraft Repair Service) finished last year with a loss of more than Sk1 million (€250,000).

Compiled by Marta Durianová from press reports
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