Univer fails to offload Kecskemét canning plant
Tuesday, March 29, 2005, 00:00
Univer Produkt Rt?s bid to resell its 51% stake in loss-making canning company Kecskeméti Konzervgyár Rt (KK) to minority shareholder József Schepp has been turned down by the latter, according to business newspaper Világgazdaság. Univer acquired the stake from Schepp two years ago. Registered with Ft 2 billion equity capital, the canning plant operator will be restructured as its losses totaled Ft 600 million last year. KK?s annual output is 60,000-70,000 tons, 90%-95% of which is exported. The company had Ft 7 billion sales revenue in 2004.