Re: End of the Forte
Another fine paper to die- it was one of my faves!
Susan
----- Original Message -----
From: "fb" <archaik@freestart.hu>
To: <alt-photo-process-l@usask.ca>
Sent: Tuesday, January 16, 2007 9:37 AM
Subject: 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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