5 March 1998: Investors interested a majority in Vertex, the largest Czech manufacturer of glass fibres and their products, were recently expected to have been presented offers in the form of purchase…
5 March 1998: Investors interested a majority in Vertex, the largest Czech manufacturer of glass fibres and their products, were recently expected to have been presented offers in the form of purchase contracts. According to information from Komercni Banka, which is managing the sale, five foreign and domestic investors are interested in buying 75% of Vertex. Last year, Vertex increased total sales by 39% over the previous year to Kc 2.5 billion. Pre-tax profit amounted to Kc 226 million, compared to Kc 202 million in 1996. Annual work productivity from added value per employee increased by Kc 193,000 to Kc 688,000. In 1997, Vertex“s new factory for one-degree production of glass fibres was fully operational, and the total capacity of all divisions now amounts to around 35,000 tonnes of fibres yearly. Meanwhile, Vertex Litomysl announced that it sold its factory in Broumov (East Bohemia) in January. The Broumov plant, which makes filters, was reportedly sold because Vertex wants to concentrate on the production of glass fibre. While it was announced that the new owner of the factory is Hobra-Sklonik, the price for which the factory was sold has not been made public. Vertex now has factories in Litomysl, Moravsky Krumlov, Hodonice and Hradec Kralove.