The price of the transaction as well as the amount to be spent on restructuring D and D Drotaru were not revealed, but Tyden learnt that Trinecke Zelezarny is spending several hundreds of millions koruna on the deal.
D and D Drotaru was recently sold to two members of Slovakia’s CTY group, but Tyden said Trinecke Zelezarny acquired the company from a third party.
D and D Drotaru, based in Miskolc (NE Hungary), turns out about 100,000 tons of product a year. It exports 80% of its output.
Trinecke Zelezarny, earlier one of D and D Drotaru’s trading partners, is the Czech Republic’s second-biggest iron works. The company has made losses for three years but expects to turn a profit in 2011.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
