JET Investment won a public tender to acquire bankrupt Kordarna. With creditors and the courts willing to allow reorganization, JET should be able to restructure Kordarna and procure the financing needed to operate. JET is hopeful that free of past debt, a new Kordarna will be able to maintain production while achieving a measure of growth and development.
Kordarna (www.kordarna.cz)
As part of the Czech Republic’s Kord Group, Kordarna is a manufacturer of technical fibers and fabrics used mainly in the production of commercial and industrial rubber products. Some applications of Kordarna’s products include tires and transport belts, which can be made into a variety of lengths and widths for various purposes. The company’s manufacturing plant is located in the southern city of Velká nad Veličkou where its history dates back to 1948.
JET Investment (www.jetinvestment.cz)
JET Investment, a.s. is a private equity investment firm established in 1997, targeting mid-sized companies in the real estate and manufacturing sectors. JET invests in its various projects by utilizing its own capital as well as that of individual private investors, occasionally establishing a new and separate company to complete a transaction. The company is based in Brno and is run by managing director and co-founder, Igor Fait.
February 19, 2010
Central & Eastern Europe, Czech Republic, Investment, Private Equity News