HTC is seeking a strategic investor for Zetor Tractors
HTC (Martin Blaškovič) is seeking a strategic investor for its Czech tractor manufacturer Zetor Tractors. The company is struggling financially due to falling sales and rising costs. Last year it lost €4.4m and wants to break even this year. Zetor has lost the Russian market, and Czech and Slovak farmers are cutting back on investments. Sister Slovak company Zetor Engineering plans to invest €28m in Považská Bystrica and employ 350 people in the production of tractor parts.
HTC sold its other major business, bearing manufacturer Kinex Bearings, in 2020. The new owner of the company with plants in Bytča and Kysucké Nové Mesto is the Indian-based National Engineering Industries.
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