Re: End of the Forte
I wonder, am I reading this correctly? If there are ~ HUF 196per USD, then a loss of HUF 150, MM is about USD750K. And HUF 300, MM is about USD $1,5MM. So, what you're saying, in US currency terms, is that Forte have a loss of USD750K for the last year, and need about USD1,5MM in investment to continue. I guess I'm astonished, even despite the depressed state of the photo paper business, that Forte would be unable to locate even USD1,5MM in funding to fund future operations, and has given up their business instead. Not good news for the dinosaurs (myself included) in the crowd. Donald L Feinberg ducque@mindspring.com ----- Original Message ----- From: "fb" <archaik@freestart.hu> To: <alt-photo-process-l@usask.ca> Sent: Tuesday, January 16, 2007 5:56 AM Subject: End of the Forte Forte made more than 150 million Forint deficit in 2006. The new owners (from the 2005 liquidation) gave up. (Forint is the Hungarian money,1$ ~= 195 Forint) The work will stop about the end of February, all 150 workers become unemployed... Forte was founded in1922 as a subsidiary photopaper factory of the English Kodak in Vác, Hungary. (http://www.forte- photo.net/e/history.htm) They had some hopes after closing other producers (Agfa, etc.) about the better selling possibilities, but the market was fulfilled with the reminders of the products of the closed factorys. Forte cannot to wait to the end of the overfilling period because it need about 300 million Forint new capital for this, but there is no new investor. Bálint Flesch Hungary, Budapest
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