Radovan Vítek’s CPI Property Group released its 2019 financial results, showing an increase in revenue of 11% to EUR 672 million. While net business income grew 8% to EUR 345 million, and net profit rose 9% to EUR 685 million in 2019. The company’s net profit is higher than revenue because net profit includes the […]
Hyundai has extended the closure of its Nošovice plant until 14 April amid the coronavirus pandemic. Production was initially suspended on 23 March. Hyundai Nošovice employs approximately 3,300 people, with about 8700 employees working for subcontractors. Hyundai also discontinued production in the United States and India. But the company’s South Korean factories continue to operate […]
Cerva Bohemia is suspending production at its Kvetna glassworks on Friday due to coronavirus related supply chain issues. “Up to 99 percent of our production goes to export. We supply goods to warehouses that are now closed due to coronavirus worldwide. We have orders, but we have no place to deliver the goods,” director of […]
Vitkovice Heavy Machinery has resumed production but is cutting 350 jobs. Jaromir Schmid, chairman of the Board of Directors, said that despite many changes in its current form, the company is not able to survive. “Some parts of the company are viable and will continue to operate, but some are not salvageable in the current […]
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, […]
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 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 […]
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 […]
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 […]