Glassmakers survive crisis but former glory gone

Prague/Liberec, Sept 19 (CTK) - Individual companies of the bankrupt glass making group Bohemia Crystalex Trading (BCT) have got out of the biggest problems two years after the start of insolvency proceedings and have even taken back part of the dismissed employees.

The companies, now run by new owners and under new names, will, however, most likely never again have such labour force as before their collapse.

Two years ago, the grouping of BCT and china maker Porcela Plus employed around 7,000 people. The companies had been struggling with economic problems for several years, however. They owned Kc4bn to banks and further hundreds of millions of crowns to suppliers. Their fall was brought about mainly by the strong crown and cheap Asian competition. The economic crisis accelerated the fall, according to experts.

Since September 2008 the group has been insolvency due to lack of operating capital. On Sept 19 the court launched insolvency proceedings with Porcela Plus and three days alter with all the other companies except Concordia.

The companies now have new owners who have paid over Kc1.1bn for them. The proceedings have not, however, ended and administrators continue selling the companies' assets.

Development of no. of employees of BCT and Porcela Plus group companies:

company no. of employees in Sept 2008 no. of employees in Sept 2009 no. of employees in Sept 2010 new owner selling price in Kc millions
BCT 156 - - - -
Crystalex 1,821 100 555 CBC Invest of Jiri Hudera; ALand EUROPE of Pavel Louda 370
Sklarny Kavalier 1,284 1,000 830 Ojgar of Otakar Motka 400
Sklo Bohemia 1,233 75 380 Crystalite Bohemia (former Vivaria) of Lubor Cerva 160
Sklarny Bohemia 524 108 320 ALand EUROPE of Pavel Louda 61
Porcela Plus 207 - - - -
Karlovarsky porcelan (Chodov plant) 160 65 ? Epiag Lofida - Porcelan CZ Dalovice 30
Karlovarsky porcelan (plants Nova Role,Klasterec,Thun studio, sitotisk) (now Thun 1794) 1,280 500 691**

Hengis 70
Concordia (now Thun 1794) 280 100 Hengis 31,5
Total 6,945 1,948 - 1,122.5*

Source: individual companies

* only price for production plants, excluding other assets

** for entire Thun 1794