Skoda Plzen carries out a restructuring programme

Article Abstract:

Skoda Holding (SH) (Plzen, Czech Republic), holding engineering company, has been carrying out a restructuring programme since March 2000. The main aim is to improve SH's property and ownership relations to go on producing at its subsidiaries in the case of the declaration of bankruptcy proceedings against the parent company. The firm's consolidated proceeds should be 22-24 bil Kc for 1999. SH's loss is expected to have been 3.9 bil Kc in 1999.

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Skoda Plzen to be late in supplying trolleybuses to the US

Article Abstract:

Skoda Plzen (SP) (Plzen, Czech Republic), holding engineering company, will start the supplies of trolleybuses to the US with a 2.5-year delay in 2000. The contract regards the supply of 250 trolleybuses for San Francisco, the US. The financing of the contract was ensured at the beginning of 2000. A credit agreement for a part of the project should be arranged by Ceska exportni banka (Czech Republic) by the end of February 2000.

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Skoda Plzen to get rid of its stake in UTE Erfurt

Article Abstract:

Skoda Plzen (SP) (Plzen, Czech Republic), engineering company, should get rid of its 95% stake in Umformtechnik (UTE) (Erfurt, Germany) by the end of 2000. SP bought the stake for a symbolic price of DEM 1 in Jan 1995. UTE is a heavy body press manufacturer.

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