Annual Report 2008

REPORT BY THE BOARD OF DIRECTORS ŽP VVC s.r.o. ŽELEZIARNE PODBREZOVÁ With the establishment ot the research and development centre in August 2008, tundaments were laid tor a systematic work targeted on steel production and terrous metal torming in the metallurgical plants of Železiarne Podbrezová a.s., as well as in other group companies. Even though the monitored period is fairly short, ŽPVVC s.r.o. reached specitic outputs from solved issues aimed at optimising the structure and teatures of alloyed boiler tubes, increasing the durability ot torming instruments and also performing tasks focusing on environment-triendly production. As part of the EUREKA project, ŽP VVC s.r.o. started to develop microalloyed steel tube production technology. Motor-Car Podbrezová s.r.o. Motor-Car Podbrezová s.r.o. is engaged in the sale and servicing of KIA passenger vehicles, using the premises ot a tormer customs office (the property ot Železiarne Podbrezová) under a lease contract. lts tinancial results are insignificant for Železiarne Podbrezová. HRON -AIR s.r.o. HRON - AIR s.r.o. entered the liquidation proceedings in 2008 and will be deleted from the Commercial Register in 2009 without affecting the profit/loss of Železiarne Podbrezová.