Slovakian plastics processor Plastika has allegedly generated a massive loss of EUR 3.7 million over the first three quarters of 2010, which is seven-fold the loss it posted for the same period last year.
The loss comes as the company’s sales plummeted 42.3% in the first nine months of 2010 to EUR 11.5 million. The company is suffering due to the blanket slowdown in the construction sector, brought on by the global economic crisis, together with halted PPP projects.
The company is not letting the disastrous results affect it too much, though, as it moves forward with the EU funded project to increase its polypropylene pipe production capacity and modernise its injection moulding systems, with its part coming from a bank loan.
Plastika owns two companies in Slovakia, Plastika-Machinery and DAN Slovakia, both based in Nitra. It produces expanded polystyrene (EPS) granules, fittings and boards, expanded polypropylene for packaging, roofing and eaves material, window profiles, technical mouldings and injection moulded buckets and crates, among other things.