11 December 1997: The Czech Republic glass exporter Skloexport has stopped purchasing materials from all its suppliers following the blocking of bank accounts, and has also temporarily halted the desp…
11 December 1997: The Czech Republic glass exporter Skloexport has stopped purchasing materials from all its suppliers following the blocking of bank accounts, and has also temporarily halted the despatching of export orders. Most glass companies focused on selling glass through Skloexport are finding it difficult to sell their goods and have now seen their sales plans for the fourth quarter disrupted. The bank order move has affected Skloexport“s cashflow, company spokesman Lubomir Marsik explained, adding that Skloexport was holding talks with banks on increasing their loans and was looking for alternative forms of financing. Marsik said Skloexport had asked suppliers to store ordered goods until payment for them had been resolved. “We do not want to take on further debts when it is not clear how we will settle them,” he noted. “This had to come. Skloexport“s payment problems are long-term,” said Jan Lexa, financial director of Jihlavske Sklarny Bohemia. Lexa said the company would not conclude preliminary export agreements for 1998 with Skloexport and would export its lead crystal through its own export company (see the 4 December Weekly World News story). “Skloexport will become only one of our domestic partners. We will offer it around 10% of our production. This represents goods worth around Kc 30 million,” Lexa said. To date Skloexport has exported goods worth Kc 300 million for Jihlavske Sklarny. The Bratri Jilku glassworks in Kamenicky Senov has also opted for direct sales for the moment. The company sells goods worth Kc 45 million through Skloexport, around half of its output. Last year, Skloexport exported goods worth Kc 2.6 billion. Its receipts in the first ten months of this year totalled around Kc 1.5 billion.