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ZCHFP: Novacke Chemicke Zavody Should Be Strategic Company
Thursday 03 December 2009 Zoom in | Print page
Bratislava, December 3 (TASR) - The Slovak Chemical and Pharmaceutical Industry Association (ZCHFP) views the Government's decision to include chemicals company Novacke Chemicke Zavody (NCHZ) in the group of strategic companies as a positive and constructive measure, said ZCHFP President Roman Karlubik in a written statement on Thursday.
"This step will lead to the preservation of some 2,000 threatened jobs directly and another 5,000 indirectly. However, I think that the Strategic Enterprises Act could potentially threaten the freedom of enterprise and future investments," said Karlubik. "NCHZ is among the pillars of Slovakia's chemical industry, so the Association supported the Government's decision to secure and maintain its operation," claimed Karlubik.
At the same time, Association representatives caution that declaring NCHZ a strategic company with other aims in mind could be dangerous not only for the chemical-maker itself but for the entire industry.
ZCHFP is in favour of Slovakia becoming another participant in legal proceedings between NCHZ and the European Commission, which has slapped what the company claims to be a ruinous fine of some €20 million on NCHZ for joining a price-setting cartel.
Economy Minister Lubomir Jahnatek said that the state shouldn't manage NCHZ in the long-term. According to him, the company should be restructured so that it can "stand on its own two feet" and then be sold via a public tender.
The ministry's report said that NCHZ's designation as a strategic company will probably have a negative impact on the state budget, even though it is unable to estimate the money that will be generated by the public tender to sell the company.
The Economy Ministry reasoned that NCHZ is important for the proper running of the Slovak economy and that it has more than 500 employees, making it legally a strategic enterprise that, after the bankruptcy process is completed, can be taken over by the state. NCHZ has over 1,700 employees, while another 5,000 jobs in the supply chain rely on the company.
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