“In the case of Explosia, we consider it essential to continue the current direction and maintain the set course. That is why we chose a solution that ensures continuity of management, and we appointed the current vice-chairman Ondřej Havlík to the head of the board,” said Minister of Industry and Trade Karel Havlíček (ANO). Havlík will then be replaced as vice-chairman by board member Pavel Křivonožka.
Rubáček, whose resignation was announced by Explosia last Thursday, came to the company from a corporate environment during personnel changes at the end of last March. At that time, three members of the five-member board of directors, as well as the sales director, left.
According to the ministry, the new management was supposed to support the company’s growth, increase production, launch planned investment projects and correct the previous shortcomings in the company’s management, for example the slow implementation of development investments.
Havlíček said in June that the state is considering the sale of the company, but now the state-owned enterprise is not being sold and the government is only evaluating the received offers. Earlier, Havlíček said that there are approximately six interested parties and if the government decides to sell, it would be best to close the deal this year or next year.
Last year, the company almost doubled its profit after taxation to a record 838 million crowns. The year before, the profit was 442 million crowns. Revenues from the sale of products and services increased by 64 percent year-on-year to 2.996 billion crowns. The company mainly produces explosives and ammunition, for example large-caliber ammunition, smokeless powder, industrial and plastic explosives and various types of ammunition. They are used in the military and civil sectors. Military production in the company currently prevails.
The state is currently the sole shareholder of the company. The company has been operating in Pardubice since 1920. Until 2002, the owner was the Agrofert group.
