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Representatives of CITIC Group discussed the company’s plans for further development in ŽĎAS


On Friday the 30th of November 2018, during her visit to the company in Žďár nad Sázavou, Mrs. Ren Xia, who is the CEO of CITIC Europe and the Chairwoman of the Board of Directors of ŽĎAS, discussed the further development of the eminent Czech engineering company ŽĎAS.

In May this year, China’s largest conglomerate CITIC Group rescued the holding CEFC Europe and the portfolio of its companies, including ŽĎAS, when it paid CEFC China´s loans from J & T Finance Group granted into China amounting to € 475 millions. Without CITIC Group, further development of the holding´s companies would not be possible. Based on this, now CITIC Group exercises shareholder´s rights over CEFC Europe and the companies that are parts of this holding, manages these companies and plans to develop their potential.

The question of further development of the company was also the subject of the visit by the representatives of CITIC Group in ŽĎAS last week.

Mr. Zhu Gaoming, the Vice-Chairman of the Board of Directors of CITIC Europe a.s., CITIC Group´s subsidiary newly established in Prague for the development of European CITIC´s activities, also visited ŽĎAS.

Both top CITIC´s managers discussed the strategic points of ŽĎAS development and the business plan for the years 2019-2022 with the Vice-Chairman of the Board and Managing Director of the company, Mr. Pavel Cesnek, and other members of the Board of Directors and Management Team. The goal is to increase the value of the company and to increase profits, but also, for example, to use a part of the premises for production expansion and coming of a new Chinese investor. Also discussed was the future of the development of company´s hotel complex in Svratka, which Mrs. Ren Xia personally visited.

During her visit, Mrs. Ren Xia met the best employees of the company, evaluated in single months of this year, personally congratulated and thanked them for their achievements. At the same time, she thanked four well-deserved employees for their excellent work for the company and their sphere of action. CITIC´s representatives also visited the company’s production facilities.