Velveta receives an exception

Article Abstract:

Velveta (Varnsdorf, Czech Republic), textile firm, plans to invest a total of CEK 359.5 mil. CEK 357.5 mil of the sum will be invested in technology. The firm has received an exception from the prohibition of public support, which will not exceed CEK 142.6 mil and will not be higher than 40% of the total volume of suitable investment costs. If the investment is not realized, about 600-700 employees will be made redundant. The rate of unemployment is nearly 14% in this region.

Strategy & planning, TEXTILE MILL PRODUCTS, Textile Mills, Velveta

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Vulkan has a new owner

Article Abstract:

Vulkan (Hradek nad Nisou, Czech Republic), latex rubber goods company, has a new owner. The company has been acquired by Telnet (US), which bought a 54.15% stake in it for CEK 15.3 mil. Telnet wants to hold the shares for only a short period of time. Negotiations about taking over the shares are alredy being held with the group J&T Securities which represents Telnet.

Acquisitions & mergers, Fabricated rubber products, not elsewhere classified, All Other Rubber Product Manufacturing, Fabricated Rubber Products NEC, Rubber products, Vulkan

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