December 02, 2008

Trinecke zelezarny buys screw maker Sroubarna Kyjov

CTK reported that steel maker Trinecke zelezarny has become the new and exclusive owner of Sroubarna Kyjov, a large European producer of railway screws. The price of the transaction has not been disclosed.

Ms Dusana Chrenekova a spokeswoman of Trinecke told CTK that German antitrust office has approved the acquisition these days.

She explained that Trinecke will add sophisticated products for the railway industry and for bearings to its line. The company uses materials from Trinecke and raises their value added, Tomas Chrenek, chairman of the supervisory boards of Trinecke zelezarny and Moravia Steel.

Mr Kristian Chalupa Czech antitrust office UOHS spokesman said the office has not yet received the application for permitting the merger.

Sroubarna, whose sales reached around CZK 708 million in 2006, was owned by brothers Mr Petr and Mr Pavel Holesinskys. It exports goods to over twenty countries, including Pakistan, Mauritania, Malaysia and Vietnam and newly also to Syria.