Sabol may suspend the production of fuel bio additives
Ján Sabol's group of companies is considering suspending the production of fuel bio additives due to high energy prices. These account for almost half of the group's €2bn annual sales. Energy prices are also a big issue for its production of alcohol, medicines and plastic recycling. The group sees a drop in demand for soft drinks (Budiš company), for railway wagons (Czech company Nymwag) and for freight rail transport (Railtrans International). During the pandemic, it has acquired the Polish biodiesel maker Lotos, two large Russian farms, mail delivery firm Cromwell, wagon repair firm Loko Trans, operator of coffee vending machines Kavomaty and the supplier of displays and information systems for sports halls ColosseoEAS. It plans to build a biofuel factory in Asia as well as a €150m wagon plant in Hungary.
Police recently charged Vladimír Tvaroška, the head of the group's farms, with bribing the management of the state land fund SPF. The group denies any wrongdoing.
