The Czech Republic“s glass manufacturer Jablonex is now majority owned by the Bijou Business Ltd., which now holds 45.6% of Jablonex“s shares. Bijou consists of three independent companies with equa…
The Czech Republic“s glass manufacturer Jablonex is now majority owned by the Bijou Business Ltd., which now holds 45.6% of Jablonex“s shares. Bijou consists of three independent companies with equal stakes: Bizuterie Ceska Mincovna and Ornela, Jablonex“ largest suppliers, and Jablonecka Exportni Spolecnost. Jablonex“s second largest shareholder is Ceskoslovenska Obchodni Banka (CSOB), with 20% of the shares. Another 14% percent is held by individual small shareholders, 9% by the company“s employees and the remainder by small firms and funds. The only foreign owner of Jablonex is the Slovak production cooperative Okrasa, a producer of glass Christmas ornaments. This year Jablonex expects to export Kc 120 million worth of Christmas decorations, which would represent a 12% increase in exports, according to Mr. Filip Brogowski of the company“s Decora division. Jablonex accounts for about half of the Czech Republic“s exports of Christmas decorations. The main markets are the US, Germany, Switzerland, Great Britain, Belgium, Italy, Holland and France. “We have also broken into markets in Japan, Australia, South Africa and Australia,” Mr. Brogowski said. In the first six months of 1997 Jablonex recorded sales of Kc 800 million and a profit of Kc 38.2 million. Profits were helped by the exchange rate. The company is expecting total sales of Kc 1.7 billion for 1997.