FAB will use its profit for development

Article Abstract:

FAB (Rychnov nad Kneznou, Czech Republic), lock manufacturer, saw a net profit of CEK 91 mil in 2000, 5% less compared to CEK 95 mil in 1999. The firm will use the 2000 profit for its development. Its costs were negatively influenced by the development of global brass prices in 2000. Fab's proceeds totalled CEK 759 mil in 2000, nearly 1% more compared to 1999. The growth of the 2000 proceeds was influenced by an increase in the sales of building locks. The volume of the sales rose by 3% to nearly CEK 390 mil in 2000 compared to 1999. Fab's proceeds from the sales of car locks to the automotive company Skoda Auto (Czech Republic) stagnated in 2000. Its exports generated CEK 130 mil in 2000, 10% more compared to 1999. Fab had nearly 774 employees in 2000, nearly 4% less compared to 1999. The firm has a stock of CEK 146 mil.

Bolt, Nut, Screw, Rivet, and Washer Manufacturing, Bolts, nuts, rivets, and washers, Lock Nuts, Nuts and bolts, FAB

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The court in Basle solves the fight for Kovosvit

Article Abstract:

Kovosvit (Sezimovo Usti, Czech Republic), machine tool manufacturer, saw a profit of CEK 30 mil for 1Q 2001, on the same level as in 2000. The firm exports mainly lathes and is not able to cover demand. Now Kovosvit was to be sold to a German strategic partner. The court in Basle, Switzerland, has issued preliminary measures to block the sale of the firm. IFB Group (Switzerland), which bought Kovosvit for CEK 300 mil after the separation of the firm from the insolvent group ZPS in the summer of 1999, was to sell Kovosvit currently. After the bankruptcy of ZPS, the bankruptcy trustee sold an assumed claim for Kovosvit to Bulana (Novy Jicin, Czech Republic) for CEK 10 mil. Bulana, which regards itself as the rightful owner of Kovosvit, has filed an objection against the sale with the Swiss court.

Metalworking Machinery, Machine Tools, Metalworking Machinery Manufacturing, Kovosvit Co.

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