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Nováky chemicals firm employing 1,800 people files for bankruptcy

Chemicals company Novácke Chemické Závody (NCHZ), based in Nováky (Trenčín Region), has filed for bankruptcy and protection from its creditors at Trenčín District Court, court spokesman Roman Tarabus said on September 17.

Chemicals company Novácke Chemické Závody (NCHZ), based in Nováky (Trenčín Region), has filed for bankruptcy and protection from its creditors at Trenčín District Court, court spokesman Roman Tarabus said on September 17.

The company produces chemical products for further processing in industry and employs 1,800 people. It was one of nine European companies to receive a fine from the European Commission in July for entering into a cartel agreement affecting sales of calcium carbide.

The overall fine amounted to €61 million, with NCHZ and its former shareholder 1. Garantovaná (1st Guaranteed) ordered to pay €19.6 million as its share. NCHZ is currently solely owned by a Cyprus-based company called Disor Holdings Limited. TASR

Compiled by Zuzana Vilikovská from press reports
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