The Penta private equity group assumes, as of January 1, 2008, production, 260 employees, and all operation-related activities from BPS, a.s. (former Novoker). Production will continue under the new company, which will operate, in order to preserve the tradition of the producer of ceramic wall tiling, under the brand of Novoker, a.s.
“Half a year ago, we committed ourselves to renew the enterprise production and create a transparent ownership and property structure. These were necessary assumptions in order that we could assume, since January 2008, the enterprise, bring other investments, and search for its perspective in the form an entry of a strategic investor,” Jozef Špirko, partner of the Penta private equity, said.
Despite the fact that the responsibility for employment relationships in the enterprise is currently borne still by BPS, a.s., Penta has allowed its future employees to obtain a non-interest-bearing loan.
“We have tried to help in solving the unfavourable situation of the employees, which have been stopped to be paid wages by BPS due to its bankruptcy. We now start to sign employment agreements with our new employees, taking into account an increase in wages by more than 10% in average,” Jozef Špirko has concluded.
Penta in Novoker:
- at the end of July 2007, the Penta private equity group assumed, based on the initiative of BPS shareholders, receivables of Slovenská sporiteľňa towards BPS,
- Penta´s priority has been a renovation of production, stabilization of labour forces, property consolidation, and preparation of the enterprise to be assumed under the new company as of January 1, 2008,
- upon a successful completion of steps, an assumption for the entry of a strategic partner has been created.