Pannonplast sells part of unprofitable unit
Pannonplast last reported a profit in 2001 and has been cutting costs and selling units after demand waned for its products, which include everything from yoghurt pots to computer monitor casings. The company expects to break even next year. The French plastics maker will have an option to buy the Székesfehérvár property, which accounts for 80% of the unit's production, Pannonplast said. Pannonplast will book a one-time loss of Ft 430 million ($2 million) in the fourth quarter from selling the equipment. Shares of Pannonplast are up 57% this year.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 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.