Business

Skoda Auto production line
Skoda Auto Extends Production Shutdown

Skoda Auto is extending its production shutdown at all three Czech factories due to the coronavirus pandemic until at least April 14. Initially, production was scheduled to resume on April 6. The employees were supposed to return to their jobs on Monday, April 6, but now they will return to work no earlier than Tuesday, […]

Kofola Sees 4% Growth In 2019

The Kofola beverage group’s revenue grew 4.1 percent to CZK 6.4 billion in 2019. EBIT rose by 2.9 percent to CZK 569.5 million and EBITDA by 5.9 percent to CZK 1.12 billion. “The last quarter, higher sales in the HoReCa segment (hotels, restaurants, and other food operations) and especially the brands Royal Crown Cola, Jupí […]

THK And Dura Halt Production

THK Rhythm Automotive Czech, a Dačice company that supplies parts for the automotive industry, will stop production for at least two weeks from 30 March. THK will finish the production this week. Next week production will stop for at least 14 days. Workers will be home at 70 percent salary. Production was stopped by Volkswagen […]

MTX Group Buys Controlling Stake In Strojmetal

Petr Otava’s MTX Group Holding has acquired Strojmetal, a manufacturer of suspension parts for the automotive industry. Otava has agreed to buy out CEO Miroslav Jelinek. The value of the transaction was not disclosed. But Euro.cz reports that Otava paid CZK 1.1 billion for a minority stake. MTX Group acquired a 55 percent stake in […]

Kretinsky EPH Group
EPH Acquires Humbly Grove Energy

EP UK Investments (EPUKI), a subsidiary of Daniel Kretinsky’s EPH Group, has acquired Humbly Grove Energy. Which owns and operates an underground gas storage facility in Hampshire, England. The company was purchased from Petronas Energy Trading Limited. “With this acquisition, the EPH Group is further expanding its portfolio of underground gas storage facilities, which it […]

czech steel plant
Vitkovice Heavy Machinery In Bankruptcy

The Ostrava Regional Court sent the engineering company Vítkovice Heavy Machinery (VHM) to bankruptcy. The proposal was submitted by the company itself, which wants to reorganize. Production stopped at the company last week after suppliers cut off power. “At the moment, we will resume production next week and will work on unfinished orders for which […]

Skoda Auto production line
Skoda Auto, TPCA To Halt Production Wednesday

Toyota Peugeot Citroën Automobile (TPCA) will discontinue production at its factory in Cologne today before midnight due to current coronavirus pandemic developments. Initially, the production lines were to be stopped on 25 March. “The health and safety of employees and stakeholders come first. For this reason, we announced yesterday’s planned line shutdown next week. We […]

BMW Suspends Production In Europe

German car manufacturer BMW will stop production at all its European plants for four weeks due to coronavirus. BMW has taken a similar step as the Volkswagen automobile group, which is closing its European plants, including the Czech ones, for two to three weeks. “Starting today, we are shutting down our European car factories and […]