M-Energo’s bid for NCHZ is rejected

Workers at NCHZ fear for their future

Following objections by the national property fund FNM at the meeting of the Creditors’ Committee yesterday, the committee decide not to sell off Slovakia’s largest chemical plant NCHZ in Novaky.

An acquisition bid had been made by M-Energo for EUR 2 million, which the FNM felt was inappopriate for a plant valued at EUR 127 million. The FNM doubt that it would have its EUR 22 million clima settled if the company wwere sold to M-Energo.

Prime Minister Iveta Radicova stressed that keeping the 1,800 workforce employed was paramount, saying that the projected release of 300-400 employees as part of company restructuring should be co-ordinated so that they could be employed at the new industrial estate that is being built nearby.

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