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. Last Updated: 07/27/2016

Skoda Purchase

Czech heavy machinery maker Skoda Plzen a.s. has completed an agreement to buy the East German manufacturer Umfortechnik Erfurt from the German privatization agency Treuhand.

The German company makes presses, farm machinery and consumer products at its factory west of Dresden.

Skoda spokesman Michal Kraus on Friday said Skoda will take 90 percent equity in the company with the German government retaining 5 percent, and banks holding the remaining 5 percent.