a world apart...
Recently in Hungary, YBM subsidiary Magnex Rt Budapest, (which has changed its name to Crumax Magnetics Rt), announced it will build a new magnet factory on Csepel Island in Budapest. General manager Gabor Varga told the press that the factory will produce 250 tons of magnets a year with a value of 2 billion forints. He also said that the new factory will acquire 12 thousand square metres, employ 300 new workers and will include a research center as well. Varga told reporters that this 5 billion forint worth of investment by Magnex will be financed by the parent company YBM Magnex, and the source of this funding will be last year's share issue.
On September 10 1998, in Canada, The Financial Post published these quotes of institutional shareholder representative Wesley Voorheis: "They (YBM) have disclosed to us some possible transactions which, if they go ahead with them, we will try and stop," said Voorheis, a principal in VC & Co. "I don't know if they're going to go ahead with them but they're on their plate, and have been discussed with us. They involve increased activity in Eastern Europe - and that's not on for us."
Also, a Hungarian report by tv journalist Laszlo Juszt, published in a weekly print magazine, painted a favourable picture of Russian mafia godfather Semion Mogilevich. Mogilevich told Juszt that stories appearing in the international press about him being involved with organized crime are lies -- that he is an honest taxpaying citizen living in Budapest, involved in decent businesses like grain-trading, and has visited the US several times in the past year.
Curiously, Laszlo Juszt did not try to reconcile Mogilevich's claims with those of international police agencies. |
