Pilsen Tools, which has been in bankruptcy since November 2019, has a new owner, the IBZ group from Nýřany in the northern Pilsen region. The new owner took over the machines, the production hall, which underwent extensive modernization in 2018, and about 50 employees. The sale of the company’s property outside the auction to the […]
CZ Loko, a locomotive manufacturer, based in Česká Třebová, recorded double-digit growth last year despite the coronavirus pandemic. In the financial year from the beginning of October 2019 to the end of last September, the company reported revenues of 2.8 billion crowns, a year-on-year increase of thirteen percent. According to the annual report, the profit […]
Billionaires Daniel Křetínský and Patrik Tkáč have increased their ownership stake in the German company Metro AG to over forty percent. Fulfilling the plan they laid out in September to take over the company through their EP Global Commerce (EPGC). “The aim is to increase EPGC’s share in Metro AG above the 30% threshold, thus […]
The Czech National Bank’s profit grew to a record 91.9 billion crowns in 2020. In 2019 the central bank reported a profit of 57.9 billion crowns. The CNB previous highest profit was CZK 73.1 billion in 2013. A CNB spokesperson said that the CNB’s profits would be used to cover the accumulated accounting loss. At […]
Škoda Auto delivered almost 20 percent fewer cars year-on-year in 2020 due to the coronavirus pandemic. The automaker delivered 1,004,800 vehicles to its customers worldwide, 19.1 percent less than in 2019 when it delivered 1,242,800 vehicles. The carmaker said in a press release. The most significant drop between models occurred at the Fabia. The 39-day […]
The Smartwings Group, which includes the Smartwings and CSA brands, transported 1.8 million passengers in 2020, an 81.5 percent decline from the previous year. The coronavirus crisis caused a dramatic decrease. The group’s sales fell by 90 percent. Last year, the group laid off 600 employees and sought relief by filing for an extraordinary moratorium […]
CZG Group – Česká zbrojovka Group SE (CZG) has entered negotiations to acquire American firearms manufacturer Colt Holding Company LLC. The time limit for exclusivity to complete the talks has been extended to the end of January. Colt is the world’s leading manufacturer of firearms. “Both parties have reached a general agreement on the basic […]
Unemployment in the Czech Republic rose at the end of last year. According to data published today by the Labor Office of the Czech Republic, four percent of people were out of work in December, while 3.8 percent were in November. According to analysts, state support related to the coronavirus epidemic keeps it at a […]
The Czech economy contracted by five percent year on year in Q3 last year. However, the quarter-on-quarter gross domestic product (GDP) rose by 6.9 percent. The results thus remained unchanged from the previous estimate from the beginning of December. According to data from the Czech Statistical Office. According to revised data, the gross domestic product […]