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CTK's Business News In Brief
(Czech News Agency Via Thomson Dialog NewsEdge)Impact of LG.Philips parent bankruptcy on Hranice plant unknown ---------------------------------------------------------------
OLOMOUC, North Moravia - The impact that the bankruptcy of LG.Philips Displays Holding will have on its plant in Hranice in norther Moravia producing cathode ray tubes is not known yet, the plant's spokeswoman Zuzana Fojtikova told CTK on Friday.
The statement made by the Dutch company LG.Philips's receiver Louis Deterink that the bankruptcy would affect all its plants and their 17,000 staff is vague and carries no information for the Hranice plant, Fojtikova said. Austria to start to build motorway to CR this year -- Aktualne.cz -----------------------------------------------------------------
PRAGUE - Austria will this year launch construction of the A5 motorway linking Vienna and the Czech Republic but will not complete the whole section on the Austrian side, the server Aktualne.cz said on Friday.
Austria's Transport Ministry has decided to end its section some 20 kilometres short of the Czech-Austrian border owing to disputes on the Czech side over the motorway's route from Brno to the border with Austria. CTU postpones deadline to announce phone booths operator --------------------------------------------------------
PRAGUE - The Czech Telecoms Office (CTU) has postponed for the second time the deadline to announce the operator of public phone booths, with a new deadline set at March 15, CTU said in a telecommunication bulletin. AGM of HPH dissolved due to small number of shareholders --------------------------------------------------------
PRAGUE - The annual general meeting of company Harvardsky prumyslovy holding (HPH), currently in liquidation, was dissolved today because the assets of the present shareholders did not reach 30 percent of the company's assets, an amount needed to hold the meeting, HPH board chairman Karel Stanek has said.
Stanek wants to convene a substitute general meeting, operational at any number of shareholders present, in around a month. HPH has around 240,000 shareholders. South Moravian wine heading for Winter Olympics in Italy --------------------------------------------------------
ZNOJMO/VELKE PAVLOVICE, South Moravia - Catering company Hockeyland has chosen nine kinds of wine from Velke Pavlovice for visitors of the 2006 Winter Olympics in Torino, with Znovin Znojmo the exclusive supplier for the Czech Olympic House, Vinium Velke Pavlovice director Pavel Stefanovic told CTK.
More than 10,000 bottles have been dispatched to Italy, with the second half of the delivery to set out at the beginning of next week. PC sales to see double-digit growth in 2006 on notebook sale--IDC -----------------------------------------------------------------
PRAGUE - Sales of personal computers in the Czech Republic will grow at a double-digit pace this year, mainly thanks to the sales of notebooks, Tomas Oupicky from company IDC CEMA told CTK on Friday.
Last year, PC sales rose by 22 percent. Notebook sales went up by 60 percent and accounted for some 40 percent of PC sales. Skoda Auto to close Vrchlabi welding shop, future unclear-press ---------------------------------------------------------------
MLADA BOLESLAV, Central Bohemia - Czech car maker Skoda Auto should close down a welding shop with some 80 staff in its Vrchlabi plant, with unionists fearing that only an assembly plant with small capacity and unclear future would remain there, company union weekly Skodovacky odborar has reported.
However, spokespersons for Skoda unionists and for the company refused to comment on the information for CTK today. Pleas to employ 100 staff in former Jitex textile plant--press --------------------------------------------------------------
CESKE BUDEJOVICE, South Bohemia - Czech underwear maker Pleas wants to launch production in March on the premises of former textile plant Jitex in Milevsko, South Bohemia, that was shut down last year, daily Mlada fronta Dnes writes in its regional supplement today.
The company will create hundred jobs in the plant and should hire former Jitex employees after re-training, Jiri Drab of the local employment office told the paper.
kou,cjl/er/vr Hyundai reps in talks about billions worth investment in Prague ---------------------------------------------------------------
PRAGUE - Reps of South Korean car maker Hyundai launched another round of talks here on Friday on the conditions for a many-billion-crown investment into a new plant which could be built in Nosovice in the Moravskoslezsky region.
Czech authorities are not providing information about the talks, claiming that it could endanger the investment project. The Czech government is to sign a memorandum on the huge investment with Hyundai management by the end of February. CzechRep to gain some Kc2bn from Switzerland in 5 yrs -----------------------------------------------------
BRUSSELS - CzechRep should gain CHF109.78m (some Kc2bn) from Switzerland in the coming five years, according to an agreement of ambassadors of EU25 countries on the distribution of Swiss contribution to the ten new EU members, Jan Vytopil, spokesman for CzechRep's mission to the EU, told CTK on Friday. Skoda Auto won't be affected by staff cuts at Volkswagen --------------------------------------------------------
WOLSBURG - Volkswagen, the largest European car maker, could cut up to 20,000 jobs within restructuring in the coming three years but its Czech unit Skoda Auto will not be affected, Skoda Auto spokesman Jaroslav Cerny has told CTK. Offer of modern office areas in Prague up 8 pct in 2005 -------------------------------------------------------
PRAGUE - The market with modern office areas in Prague expanded further last year as companies built more than 144,000 square metres of these areas, up 7.9 percent from 2004, and at end-2005, the area in modern office buildings reached nearly 1.83 million square metres, according to Prague Research Forum study.
Over a half of the newly built office buildings are located at the outskirts of Prague. RRTV starts 28 actions against Czech TV for too many commercials ----------------------------------------------------------------
PRAGUE - The Council for Radio and TV Broadcasting (RRTV) has arrived at the conclusion that the Czech TV broadcast longer blocks of commercials than it is allowed by law and therefore it launched 28 administrative proceedings against the Czech TV for breaking the daily limit, RRTV said in a press release on Friday.
The limit stands at 1,728 seconds, or less than half an hour a day. Sekyra Group to build tower building in UAE --CBW -------------------------------------------------
PRAGUE - Sekyra Group, one of the largest Czech real estate groups, is planning to enter the United Arab Emirates this year as the group wants to build an over 40-floor high tower building in Dubai that should be mainly for residential purposes, board chairman Ludek Sekyra told Czech Business Weekly (CBW). Sekyra said the investment in this project should reach EUR100m (Kc2.85bn). Sekyra Group is preparing investments in the UAE and is in concrete negotiations about mainly residential projects there, to buy plots and invest, CBW says. Sekyra Group wants to invest Kc1bn into Czech hotels --CBW ----------------------------------------------------------
PRAGUE - Sekyra Group, one of the largest Czech real estate groups, will enter the hotel sector within a month, with the acquisition of two hotels - one in Prague and the other in Spindleruv Mlyn, and the transactions are worth Kc1bn, board chairman Ludek Sekyra told Czech Business Weekly (CBW).
"We consider it healthy to have 10 percent of our investments in the hotel sector. We should reach that target in five years," Sekyra said. Structure of PPF fund under review --CBW ----------------------------------------
PRAGUE - The Office of State Supervision in Insurance and Pension Funds at the Finance Ministry has launched administrative proceedings against financial group PPF aimed at determining the PPF's structure, Czech Business Weekly (CBW) wrote on Friday.
The aim is to rule whether the group is a financial conglomerate according to law. If found to be a financial conglomerate, PPF would be the only such entity under the supervision of Czech authorities, CBW adds. Zapadoceska energetika to have just 30 staff in July ----------------------------------------------------
PLZEN, West Bohemia - Regional power distributor Zapadoceska energetika (ZCE) will have only 30 employees on July 1, down from the current 460, as most of the staff will be taken over by new companies within CEZ, ZCE CEO Viktor Miskovsky has told journalists.
Some 340 people will leave for CEZ Distribucni sluzby based in Ostrava. Employees of four small hydroelectric plants will be taken over by CEZ Obnovitelne zdroje (Renewable Resources) of Hradec Kralove, East Bohemia. CEZ starts to build small hydroelectric plant in Plzen-Bukovec --------------------------------------------------------------
PLZEN, West Bohemia - The sole power plant that power utility CEZ is building at the moment is a small hydroelectric power station on the Berounka river in Plzen-Bukovec, Viktor Miskovsky, the CEO of regional power distributor Zapadoceska energetika (ZCE) of the CEZ group, told CTK.
Construction of the plant with the output of 500 KW will begin these days. By the end of the year, the company wants to spend Kc25m on the project, he added. German investor to employ up to 150 people in Koprivnice --------------------------------------------------------
OSTRAVA, North Moravia - Up to 150 people may find jobs with a thus far unnamed German company interested to build a plant in industrial zone of Koprivnice in the Novy Jicin district, Miroslav Privetivy, the spokesman of the Koprivnice Town Hall, told CTK on Friday.
Reps of the company are to arrive in the town early in March to discuss the conditions of the sale of the plot of land. Linaset plans large investments into modernisation --------------------------------------------------
BUDISOV NAD BUDISOVKOU, North Moravia - Tools and castings maker Linaset wants to invest Kc85m this year, Kc50m more than in 2005, due to growing demand for the company's products, sales director Richard Zeman told CTK on Friday. Czech ship-owners lack ships due to interest in river transport ---------------------------------------------------------------
DECIN, North Bohemia - Czech ship-owners transported over one million tonnes of goods to and from west European ports last year, raising the volume of transport by 60 percent, Jiri Aster of the firm Cesko-saske pristavy (Czech-Saxon Ports) told journalists on Friday.
Demand was so high that the company lacked ships, he added. Due to unfavourable conditions on river Elbe in 2003-2004, the companies sold some ships and moved their activities to other rivers which are navigable all the year round. LG.Philips may partly resume production in Slovak plant on Monday -----------------------------------------------------------------
ZILINA, Central Slovakia - LG.Philips Slovakia plant in Namestovo will on Monday probably partly resume production which it has suspended due to financial problems last week and so only some 110 out of the 700 employees are likely to work on Monday.
Production may be raised gradually again, Pavel Boldovjak of the Namestovo Labour Office confirmed to CTK.
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