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  1. #11

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    Thanks for the interpretation. I was skeptical about the previous announcement.

    Who does own Forte at this point in time? In other words, did they again go into bankruptcy before ceasing production - or did the ownership simply decide to stop production to prevent further losses and preserve their capital?

    Also, is it possible that Foma would simply assume control of the present-day Forte plant and do the coating there rather than attempt to produce the paper at Foma's own facilities?

    Whatever the case, I appreciate the information.

  2. #12

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    Quote Originally Posted by aldevo View Post
    Thanks for the interpretation. I was skeptical about the previous announcement.

    Who does own Forte at this point in time? In other words, did they again go into bankruptcy before ceasing production - or did the ownership simply decide to stop production to prevent further losses and preserve their capital?

    .
    The owner is the Csurgo investment group and they closed down the plant as they have other plan for the property as it's very attractive! The Csurgo group is an estate development group. They hardly ever have been at Forte at all and have a totally different location geographically speaking! Yes, they have losing “some” money but they are people who is got big money so they don’t care at all. They are not in the rush at all and even pay some money to all the employes with the closing down the plant!
    Last edited by uraniumnitrate; 01-27-2007 at 01:28 AM. Click to view previous post history.

  3. #13

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    Quote Originally Posted by ADOX FOTOIMPEX View Post
    If you translate this announcement more carefully you will see that it says that the above group of people has the intention to do what they describe and that money has been raised and put on their table to make a proposal to Forte.

    I wonder what drives so many people lately to announce things in internet forums which are at that particular point only in planing stage.
    Here it reads as if things were definite yet and the paper was just about to be produced again.

    I am just returning from Budapest and my view on the situation is:

    Point 1: Nothing has been decided by the owners of Forte yet and probably won´t be in short term
    Point 2: The situation down there is currently of a kind which does not put any pressure on the owner to make anykind of an immediate decision
    Point 3: Fomas coating line differs substantually from Fortes (I know both) and a smooth transfer will be VERY difficult if not impossible
    Point 4: There have been earlier attempts by other, very prominent companies who did not succed and I would really wonder why this project suddenly should be much luckier than them
    Point 5: The stage described in the announcement from Fotohuis (want to save the paper and make a proposal, have a budget to do that, have good plans of what to do) has been reached at least by three other groups before (including Fotoimpex) and where did they get: nowhere, sofar.

    Sorry to say this. I hope I don´t get stamped as the bad news guy here but these announcements lately make me wonder.

    But maybe they work a miracle. Let´s wish them good luck. We´d definitely like to continue to carry this paper in our portfolio.

    Regards,

    Mirko
    To answer the above highlited first.

    All the wannabe's who think they know it all but, know nothing.


    And for the rest you wrote and this is not for you but to all other readers.

    The situation described by Mirko is the very situation as is. It’s correct and thru by any means.

  4. #14
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    Quote Originally Posted by uraniumnitrate View Post
    [B]All the wannabe's who think they know it all but, know nothing.
    More likey just people who are gutted by the prospective dissappaerance of a beautifull paper. Cut them some slack and don't be obnoxious....

    Jaap Jan

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