Re: End of the Forte
Don, yes, your reading/calculation is correct. The source of my numbers is an article of a Hungarian news site (http://index.hu/gazdasag/magyar/frt070115/) a report with Mr Máté the director and coowner of Forte. Anyway the strong change of the HUF/USD rate caused the liquidation in 2005. I'm afraid Forte is not the last victim of the slow agony of the analogue photographic supporters. Bálint Flesch Budapest, Hungary http://archfoto.atspace.com/ > 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 $1,5MM. > > So, what you're saying, in US currency terms, is that Forte have a loss of > USD750K for the last year, and need about USD1,5MM in investment to > continue. > > I guess I'm astonished, even despite the depressed state of the photo paper > business, that Forte would be unable to locate even USD1,5MM in funding to > fund future operations, and has given up their business instead. > > Not good news for the dinosaurs (myself included) in the crowd. > > Donald L Feinberg > ducque@mindspring.com > > ----- Original Message ----- > From: "fb" <archaik@freestart.hu> > Sent: Tuesday, January 16, 2007 5:56 AM > Subject: End of the Forte > > > Forte made more than 150 million Forint deficit in > 2006. The new owners (from the 2005 liquidation) > gave up. > > (Forint is the Hungarian money,1$ ~= 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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