For the purchase of 90% stakes in each of two Hungarian aluminium companies, Mosonmagyarovar Timfold es Mukorund Kft (MOTIM) and Inota Aluminium Kft, two bids have been submitted, Hungalu president Ar…
For the purchase of 90% stakes in each of two Hungarian aluminium companies, Mosonmagyarovar Timfold es Mukorund Kft (MOTIM) and Inota Aluminium Kft, two bids have been submitted, Hungalu president Arpad Bakonyi reported at the beginning of November 1995. MOTIM processes an annual 180,000 tonnes of bauxite into 50-60,000 tonnes of alumina, most of which goes for export. MOTIM, which has registered capital of Ft 1.098 billion, projects an operating profit of Ft 300 million on net sales of Ft 6.4 billion for 1995. The retained earnings target is Ft 200 million, against Ft 90 million in 1994. Inota Aluminium Kft processes 65,000 tonnes of bauxite a year. The company, which has registered capital of Ft 1.002 billion, expects net sales of Ft 8 billion in 1995 with an operating profit of Ft 700 million and retained earnings of Ft 400 million. The company had an operating profit of Ft 280 million in 1994.