The end of megalomaniac plans
Article Abstract:
Aliachem (ACH) (Czech Republic), chemical company, will originate on 01 July 1998 as a merger of five chemical firms belonging to Chemapol Group (CHG) (Czech Republic). ACH will incorporate Moravske chemicke zavody (Ostrava, Czech Republic), Fatra (Napajedla, Czech Republic), Technoplast (Chropyne, Czech Republic), FSG (Czech Republic) and Synthesia (Pardubice, Czech Republic). These five firms will dismiss a total of 1,200 employees. Other workers will be redundant at Spolana (Neratovice, Czech Republic), which should join Aliachem in the summer of 1999. The merger should be completed by the end of 1999. This operation should result in the reduction of CHG indebtedness by 2 bil Kc, which is one third of the current debts. ACH should generate a turnover of more than 10 bil Kc by the end of 1998 and about 20 bil Kc per year after the incorporation of Spolana. The firms that are merging saw a total loss of nearly 3 bil Kc in 1997. By 2000 they should generate a profit of 2.6 bil Kc. CHG is unable to redeem credits granted for the purchase of most of its firms. It has decided to set up ACH from companies of its chemical division to be able to sell its unprofitable firms.
Comment:
To merge with 4 other chemical firms belonging to Chemapol Group to form Aliachem
Publication Name: Ekonom-Tydenik Hospodarskych Novin
Subject: Business, international
ISSN:
Year: 1998
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Eureka - the history of a project
Article Abstract:
Synthesia (Pardubice, Czech Republic), chemical company, is involved in the international science and research co-operation programme Eureka. The firm has succeeded with three projects: the production of chemical specialities (FC RAD), the analytical control of specific impurities of chemical products and the decreasing of the influence of chemical production over the environment. The project EU 1350 FC RAD regarded the setting up of a necessary structure for the development of the very specialised fine chemical production. Total proceeds from production realised within the solution of the project FC RAD, were more than 100 mi Kc as of the date of the completion of the project on 31 December 1997. The total budget of the project FC RAD was 43.411 mil Kc including a subsidy of 8.411 mil Kc from the state budget. Synthesia is the largest Czech producer of chemical specialities.
Publication Name: Ekonom-Tydenik Hospodarskych Novin
Subject: Business, international
ISSN:
Year: 1998
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Forced to dismiss
Article Abstract:
Bochemie (Bohumin, Czech Republic), consumer chemicals company, will have to begin reducing the number of employees in 1998. In 1998 the company should dismiss 19 persons. The reason is that no cost reduction and increase in productivity of labour were seen in 1997. Bochemie expects sales of 684 mil Kc in 1998, 10.7% more compared to 1997. Its 1998 profit should total 47 mil Kc. Bochemie is the parent company of Bochemie Group (Czech Republic).
Comment:
Consumer chemicals company will have to begin reducing the number of employees in 1998
Publication Name: Ekonom-Tydenik Hospodarskych Novin
Subject: Business, international
ISSN:
Year: 1998
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