Business News

Minister Promises Govt Will Tackle Companies' Problems

Novo mesto, 16 April (STA) - The government is determined to find a systemic solution to banks' bad claims and the over-indebted economy, Economic Development and Technology Minister Stanko Stepišnik said during his visit to several Slovenian companies in the Dolenjsko (SE) region on Tuesday.

Visiting pharma company Krka, car assembly plant Revoz, pre-fabricated constructions panels maker Trimo, and camper and caravan maker Adria Mobil, the minister said the companies were doing a good job.

He noted that the Trebnje-based Trimo was, like many Slovenian companies, dealing with the issue of capital shortage and over-indebtedness

Capital adequacy of these companies needs to be improved much like the capital adequacy of banks and the state will do all it can to draw up a scheme to enable such companies convert their credit liabilities into an ownership share, Stepišnik said.

He said Revoz, a French-owned company producing Renault cars, had been affected by a drop in car sales but that new projects were under way at the company.

Labelling Krka a Slovenian flagship company, the minister asserted that the state would not sell its stake in the company.

He said the purpose of today's visit to Dolenjsko was to get acquainted with the problems of regional companies and their efforts to tackle the credit crunch.

The prime minister and finance minister are both acquainted with the situation, and the government will make an effort to find solutions to boost the companies' liquidity and their competitiveness, according to Stepišnik.

He stressed that export-oriented companies were the most important for Slovenia at the moment.

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