29 January 1998: After accumulating huge debts with Sklo Bohemia Svelta, the company decided to end its contract with Skloexport.
As of recently, Sklo Bohemia Svelta has been exporting goods through …
29 January 1998: After accumulating huge debts with Sklo Bohemia Svelta, the company decided to end its contract with Skloexport. As of recently, Sklo Bohemia Svelta has been exporting goods through Bohemia Crystal Trading (BTC), after the firm“s board of directors cancelled the trading contract with Skloexport Liberec at the end of last year. The company reports that Skloexport owes tens of millions of crowns to Sklo Bohemia and even failed to meet its contractual obligations concerning the volume of exports and prices. “Skloexport has huge debts towards Sklo Bohemia Svetla, so we have pressured IKS KB Plus representatives not to continue in the wrongful process of leaving exports in the hands of someone who does not pay and who is dragging the glassworks down,” said Porcela Plus Praha“s Radovan Kvet, who at the end of the year bought 5% of Sklo Bohemia“s shares from the town of Svetla. Sklo Bohemia, together with Crystalex Novy Bor, took part in the forming of BTC in 1996. The renewed trade agreement with BTC was pushed through in December by Porcela Plus Praha, Kvet said. Representatives of Sklo Bohemia“s management say that turnover last year was less than Kc 500 million, down from Kc 720 million in 1996 and Kc 200 million less than planned. Sklo Bohemia“s record, however, has been somewhat unstable in the past; initially, they were exporting via BTC, from the middle of 1996 to February 1997. With the coming of new owners, they returned to Skloexport, only to find themselves switching back to BTC in December of last year. Skloexport owes more than Kc 200 million to glass producers and another Kc 800 million to Komercni banka. Skloexport“s financial problems came to a head when Zivnobanka, which Skloexport owes Kc 400 million, froze its accounts. Jihlavske sklarny, another glass producer, also stopped trading through Skloexport at the end of last year.