Bearings Producer ZVL Auto Plans Balanced Performance

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Oct 20,2006

Bearings Producer ZVL Auto Plans Balanced Performance This Year Automotive bearings producer ZVL Auto, based in Presov, eastern Slovakia, expects operating losses of SKK 41.8 million this year. Company director general Miloslav Vysoky explained that it is because the foreign trade partners of the firm, mainly in Germany, are important world producers of agricultural equipment and their market position makes them strong in price negotiations with suppliers. Mr. Vysoky explained that the firm decided to terminate these trade relations. Having no possibility to increase prices of products it sells to these companies, the company has no reason to continue these relations given an increase in steel prices on world markets. Mr. Vysoky said that the company plans a balanced performance in 2006 because of sales of capital assets and stakes in their subsidiaries.

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