HTC sold Kinex to National Engineering Industries of India
Indian company National Engineering Industries acquired bearing maker Kinex, with two plants in Bytča and Kysucké Nové Mesto. The Indian firm employs 3,000 and is part of larger CK Birla Group. The 1,000-strong Kinex with annual sales of €60m is being sold by HTC, controlled by Martin Blaškovič. A controversial lawyer, Zoroslav Kollár, recently sold his stake in HTC, which has not been doing great lately. Its carbon goods maker Elektrokarbon filed for bankruptcy in 2018 and its largest industrial firm, Czech tractor maker Zetor, has been struggling, too. HTC also controls Zetor Engineering, a defense contractor that has recently partnered with Rheinmetall of Germany in the production of Gerlach armored vehicles.