Radeče, 27 August (STA) - Four years after its bankruptcy estate was sold to the Dubai financial holding Emkaam Investments, the paper mill in Radeče in central Slovenia returned to profit last year. Net profit reached EUR 100,000 and sales revenues were up by EUR 8m to EUR 33m.
After posting a loss of EUR 868,000 in 2016, business picked up last year due to a large order for its machine five, used to print money and other valuable documents, said management member Tomaž Režun.
He said the deal with an African country, worth some EUR 5m, put the company back on the global map of money printing companies that can handle big orders.
This year, no such order arrived, but they have many smaller ones.
Radeče Papir Nova, which employs some 180 people, is therefore looking for staff to work in shifts. In case of a larger order, the company would need 20-30 more workers.
Radeče Papir Nova was relaunched in 2013 after its predecessor Papirnica Radeče went bankrupt. Emkaam Investments bought its bankruptcy estate for EUR 5.1m the same year.