Czech republic : government wants to save LG Philips subsidiary factory

Publication

27 February 2006 à 16h05

Updated on 20 March 2013 à 22h52

Reading time

2 minutes

Publication: 27 February 2006 à 16h05, Updated on 20 March 2013 à 22h52

Reading time: 2 minutes

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Over 1000 jobs are potentially threatened in Hranice na Morave. The government wants to help financially. But if the factory stops its activities, it will have to reimburse the Czech government 1,5 billion CZK (about 53 million euros) in subsidies. (Ref. 06187)
Publication

27 February 2006 à 16h05

Updated on 20 March 2013 à 22h52

Reading time

2 minutes

Publication: 27 February 2006 à 16h05, Updated on 20 March 2013 à 22h52

Reading time: 2 minutes

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The Czech government is ready to help save over 1000 jobs in a company that is in a bad financial situation (see our article Ref. 06102). After its Dutch parent company LG Philips Displays Holding requested an insolvency protection before the Dutch court, Czech subsidiary company LG Philips in Hranice na Morave got into a difficult situation. It stopped its production at the end of January for several days and its 1300 employees were threatened by unemployment.

In February the company...

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