Description of the company

The main production program of this company is the production of various types of steam boilers, heat exchangers, and condensing machinery, machinery for chemical production and for environmental protection. It ranks among the top companies in the world for the production of fluid boilers. In terms of sales volumes, it takes second position in Slovakia - right after Volkswagen. The company has some 1,300 employees.

Year	1995	31.12.1996	1997
Turnover	x bill. Sk	4.2 bill. SK	3.7 bill. Sk
Profit	-644 mil Sk	-431 bill. Sk	82 mil. Sk

Acquisition

We carried out the purchase of a controlling block of the SES Tlmace shares for our client and, in addition, we also partially participated in financing this project. The acquisition took place from September to December 1995. Total shares acquired were 16%, representing an amount of 84 million SKK.