Alternative Views on Rescuing Machinery Maker Litostroj

Ljubljana, 15 October - LITOSTROJ/TRADE/UNION
Slovenia's industrial giant Litostroj, a producer of turbines, pumps and forklift trucks, established in 1947, has been facing huge financial problems in the past few years. The company's shareholder, the Development Fund of Slovenia, has been actively engaged in the rehabilitation of Litostroj, a company with over 1000 workers. Interested in buying a share in Litostroj is a Swiss-Swedish concern ABB which signed with the Slovene Ministry of Economic Affairs a heads of agreement in July. Another firm interested in "saving" Litostroj is the Malaysia's Malakoff, while Slovene experts in mechanical engineering believe Litostroj should be saved by Slovenia only.