According to the shareholder, the production in ČKD Kutná Hora is only valid for a few days

Kutná Hora, 17 September (ČTK) – The engineering and foundry company ČKD Kutná Hora, which submitted an insolvency proposal, interrupted production. All 400 employees stay at home. According to deputy shareholder Pavel Krenka, this is a temporary state and production will be restored within a few days. The company has a new owner and his leadership is changing, Krenk told CTK today.

ČKD Kutná Hora dominated the Ukrainian billionaire Konstantin Ževago in 2012, to whom the Czech manufacturer of the chassis of the railway invaded the metallurgical empire. Krenk says the company has had a new owner from the Netherlands since last week. However, there is no change in the trade register.

"The fact that production is stopped is not the direct result of a long-term situation, but it is the need to form an idea of ​​what and how to come together in the context of total change in leadership than a few days, "said Krenk about the current downtime.

According to him, the company is not in a bankruptcy situation and Krenk does not think he will go bankrupt. He sees reorganization as a solution. The company owes creditors nearly 350 million kroner. "There are about 400 million claims against it," Krenk said.

The company is in trouble due to the decline in demand for its products on the world market and the associated decrease in orders and production volumes. It also had to do with the exchange rate fluctuations of the euro and the dollar against the crown and also lacked personnel in key positions, such as smelters, operators or CNC machine companies. However, Krenk sees the further development as positive, the company has a great technical and technological potential.

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