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Slovglass Poltar Management on Lookout for New Investor
Friday 12 November 2010 Zoom in | Print page
Poltar, November 12 (TASR) - The management of glass-maker Slovglass Poltar (Banska Bystrica region) has conceded that the company has been experiencing problems due to the global crisis ever since the summer.
Sales have been declining, with smaller revenues as a result. Because of this, Slovglass Poltar is looking for a new domestic or foreign investor to bring financial resources to planned development projects.
Slovglass executive director Karol Farkas told TASR that all main and strategic suppliers have been informed by the company about its difficult situation and are offering a helping hand by postponing invoice deadlines. Adopting the same approach, Slovglass decided to postpone the payment of salaries.
The company's employees say that they haven't seen any salaries for a couple of months and don't even know why. Trade union chairman Jozef Cincura thinks that if no investor is found the company will shut down by the end of the year.
There is great anxiety among the employees. "I think that their patience has run out. They've only received a written statement from the management saying that the company is looking for a new investor to improve the financial situation," said Cincura, adding that the 150 employees have only received one payment of €100 each recently.
If the employees don't receive their salaries by November 15, they will be free to sue the company or go on strike.
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