Papier mills Mondi SCP and Bukocel are not doing well
The country's largest paper mill, Mondi SCP, 51% owned by the South African Mondi group and 49% by Milan Fiľo, reported a loss of €25.9m last year and sales fell 20% to €690.2m. In 2019, it reported a net profit of €65.6m. The gradual deterioration in results reflects falling demand for paper and more expensive wood. In the first half of this year, paper prices fell further.
Fiľo’s other businesses posted profits last year. Meat processing plant Tauris earned €4m net profit on sales of €153m. Sales of paper hygiene plants SHP Slavošovce and SHP Harmanec came to €120m and profit stood at €6m.
The second largest paper mill Bukocel lost €30m last year, stopped paying wages and the owner Ján Ďurian was forced to sell it to Czech businessman Roman Staněk, who promises to revive it.
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