Spinea had a tough year in 2022

High precision reduction gears maker Spinea posted an 8% drop in sales to €28.5m last year. It had planned a growth to €40m, but was held back by a shortage of chips. Accounting operations at the merger with subsidiary Spinea Technologies and Timken Slovakia resulted in an accounting loss. US firm Timken became its new owner last year and the previous owner Jozef Jankulák collected an estimated price in the upper tens of millions. The company is investing €80m in a new plant near Košice.

(trend.sk)