BUSINESS IN SHORT

Large holding company to be formed

THE OWNER of the Istrokapitál investment group, Mario Hoffman, along with Peter Gabalec and Martin Kvietik from Slavia Capital and Sitno Holding, which is owned by former economy minister Ľudovít Černák, will establish a joint holding company with basic capital of €100 million that will include eight Slovak engineering firms, the Hospodárske Noviny daily reported.

THE OWNER of the Istrokapitál investment group, Mario Hoffman, along with Peter Gabalec and Martin Kvietik from Slavia Capital and Sitno Holding, which is owned by former economy minister Ľudovít Černák, will establish a joint holding company with basic capital of €100 million that will include eight Slovak engineering firms, the Hospodárske Noviny daily reported.

“We will found a group which will become Slovakia’s number one in the traditional engineering market,” Černák stated, as quoted by the daily.

The goal of the holding company, which will be established in June, is to try to avoid the negative effects of a possible recession and to use synergies between the firms within the group to increase their competitiveness, Hospodárske Noviny wrote. Chemstroj, PPS Group, Way Industries, Trens and MetalurgSteel were identified as firms that would become part of the holding company.



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