CZECH: Fezko expects proceeds above CEK 1 billion in 2005

STRAKONICE: Fezko a.s., an automotive textiles company, expects proceeds above CEK 1 billion in 2005. In 2004 it saw proceeds of CEK 952 mil, up 33% from 2003.

In 2005 the company is generating about 66% of its proceeds by supplies to the car company Skoda Auto (Mlada Boleslav, Czech Republic), or Johnson Controls CR (Czech Republic) that makes seats for Skoda cars. In 2001 this percentage was over 85%.

To minimize sales risks, Fezko is expanding the circle of its customers.

In 2005 it is selling automotive textiles to numerous world car companies. In 2004 Fezko bought a textile plant near Zilina, Slovakia. This plant should become a supplier of the new plant the car company Hyundai/Kia (South Korea) is building in Slovakia.

Fezko makes classical automotive textiles and textiles with various finishes. This is how the company succeeds in increasing its proceeds. A woollen yarn spinning mill was constructed between 1982 and 1985 to satisfy the increasing demand of the Czech woollen industry for this material in the eighties. When the demand had decreased in the subsequent period, the premises were utilised for accommodating the yarn preparation plant for the weaving shop.

Production of car interior upholstery textiles started in 1986 after successful development of raschel plush for the SKODA Favorite car. In 1998 a group of European and American investors under the guidance of PCTC Management acquired the major interest in the company. During 1998, extensive reconstruction of the company took place with the goal of creating two perspective plants: a manufacturer of auto textiles and a manufacturer of headwear. Its plant in Strakonice has 350 employees.

Source: BharatTextile.com