Jaroslav Krajc, the financial director of Sklarny Kavalier Sazava, the Czech glassware producer, has announced that the company made a profit of Czk 215 million in 1995, Czk 15 million more than expec…
Jaroslav Krajc, the financial director of Sklarny Kavalier Sazava, the Czech glassware producer, has announced that the company made a profit of Czk 215 million in 1995, Czk 15 million more than expected. 1995“s total sales were Czk 1.4 billion, 11.1% up from 1994. Exports accounted for 76% of the sales, 2.5% more than in 1994. Kavalier exports glass to 70 countries. In 1995 it increased exports to Germany, Italy, USA and Egypt. The company“s share capital totals Czk 723 million. Firms own 72.4% of the company“s shares. Individual small shareholders (DIKs) 10.8%, the town of Sazava 2.7% and employees 2.5%. Mr. Krajc has also stated that Sklarny Kavalier will, this year, invest over Czk 200 million, half of which will be used for production equipment and technical development. Another 15% will be invested in computer technology and 7% into environmental protection. 12% will be spent on social purposes, such as reconstructing company housing and building small flats. Sklarny Kavalier is expecting US company Impac to help it cut costs and increase labour productivity. Impac experts have been supervising the implementation of the measures they suggested for reducing overtime work, saving energy, and including staff training at all levels of management. The joint project was set to be completed in July and partial results suggest that the targets set by the US company are realistic.