GGB Named One of Slovakia’s Most Financially Healthy Businesses

July 23, 2015

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GGB Bearing Technology in Sucany, Slovakia

Sučany, Slovakia -- GGB Slovakia s.r.o., a division of GGB Bearing Technology, has been named the Žilina region’s most financially healthy  manufacturer among businesses with sales between 10 to 50 million euros. Based on the company’s public financial statements, the selection was made by Hospodarske Noviny (HN), a leading daily business publication, in partnership with co-sponsors UniCredit Bank, Deloitte and Bisnode Slovakia.

“Our business in Slovakia is doing very well,” said Robert Paškuliak, manager of GGB’s Sučany production facility.  “Our annual growth rate is 10 to 20%, and we have more than doubled our production in the past five years.”

Patrick Ferko, director of Deloitte Audit, explained “During the evaluation process, we focused on criteria such as profitability, freedom from debt, stability and growth. These demonstrate a company’s success in the market, and show how its owners and management maximize the use of resources and generate added value. They also represent current capital strength and indicate future success.”

Frantizek Dolezal, director of medium-size companies for UniCredit Bank, added, “It is a benchmark of companies in the region, taking their size into account which shows that a company is doing well and has the potential to grow.”

Julius Sauer, country manager for data partner, Bisnode Slovakia, concluded, “The rankings declare that a company is a credible and responsibly operated business. Therefore it is considered to be stable and economically sound with a positive outlook for the future.”

For more information please contact slovakia@ggbearings.com or marketing@ggbearings.com

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