Company history

1869
Having completed his studies, Antonín Knotek was employed with the bank Slávia in Prague in the Wenceslas Square as an "assistant clerk". He owned a house in Žižkov.

1870
A sugar factory was founded - the first industrial plant in Jičín. 

1871
The first railway connecting Jičín with Ostroměř and the railway station were built.

1874
František Knotek comes to Jičín from the village of Dřínov at Slaný as the first one of the Knotek family. He started working in Prague in the bank Slávia, where his older brother Antonín had been working, but he soon became a proxy for the competitor - Liberec-Brno insurance company Konkordia for the Jičín area. He lived in the Valdštejn Square, house No. 60. Then, in addition to his work in the insurance company, he established his own sales warehouse of "fertilizers and chemicals".

1877
František Knotek also called his parents, sister Anna and youngest brother Václav to come from Dřínov to Jičín.

1878
Two of the future founders of the firm Knotek a spol., František and Antonín, start undertaking in the area of agricultural machines. They signed an agreement "that they would undertake something together". Josef Knotek, father of Antonín, František, Josef, Václav and Anna, died. Other three siblings did not live to the adult age.

1879
Brother Antonín Knotek also comes to Jičín. He also becomes an employee of the insurance company Konkordia. František was already publicly active in Jičín. He becomes the managing director of the "Economic, Forest and Industrial Union" and contributes to the publication of the magazine Přemysl.

1880
František and Antonín founded the "Warehouse of agricultural machines and agricultural items in Jičín", whereby they laid the foundations of their future business. In the house No. 4 in the town square, they opened "warehouses and shop with iron and paints". They sold forks, shovels, nails, iron bars, pumps,……

1882
In public auction, they acquire the house in the Ruská Street No. 21 for 14,200 Zl. (protected house of clerics from 1632, therefore from the era of Albrecht of Wallenstein) and transferred the "Iron shop" there and established the "Machine plant" in the yard, in which they mainly repaired agricultural machines but also produced smaller machines. There the "Machine plant for agricultural machines of František Knotek in Jičín" was formed. In the workshop, 12 workers were employed.

1883
Business flourished, Antonín was responsible for office, accounting and financial matters. František was responsible for the shop. For the first time, František was elected to the town assembly in Jičín and he served there till his death in 1910.

1884
In addition to very successful ploughs, they started the production of driving wheels and driving wheel thrashers.

1885
The shop was expanded to include paints, lacquers, varnishes, and various painting items.

1886
František Knotek becomes a councillor in Jičín and he served in this position till his death in 1910.

1887
The brothers have finished the design of a new sowing machine, but they did not have a place where to start the production. The conditions were really crowded. They had 2 lathes, several drilling machines and various other machines. Wooden parts of the machines were produced in joinery by a joiner with his two assistants.

Eighties
Big success. They produced e.g. ploughs, driving wheels, thrashers, mills for cleaning grain and they repaired agricultural machines, especially sowing machines. It was obvious that the premises in the Ruská Street could not be sufficient any more and the brothers started to look around to find suitable lands for further development of their business. At first, they wanted to buy adjacent plots, but they were too expensive. Finally they purchased a field at the railway station and also the neighbouring plot at the road to Popovice. Between 1883 and 1887, the number of employees increased from 14 to 24 and the salary rose between 65-80 zloty to 90-105 zloty per week.

1888
František Knotek founded a factory in Jičín that was focused on the production of agricultural machines and tools Knotek a spol. (Knotek and Comp.). His partners were brothers Antonín and Josef. At that time, Josef was a brewer in the Nová Paka brewery. The factory was formed on the current land by the transfer of the production started in 1880 - 1882 in the object in the Ruská Street No. 21. The plants "Iron and paint shop" and "Machine plant" were transferred to the firm. The Articles of Association were signed as of 3.2.1888 and they were registered in the "Commercial Register of business firms of the Regional Court and Trade Senate in Jičín" as of 18.2.1888. Moving from the Ruská Street took place in 1889.
They built the machine plant with the boiler room ("12-hp steam engine"), fitter´s shop, forging shop, joinery and foundry of grey cast iron.

1891
The production assortment of the plant, which consists especially of ploughs, sowing machines, weeders, swatch turners, rakes and thrashers, was extended with the grass and grain mowing machines according to the US patents.

1895
The sales grew well not only in the Czech market and in the markets of the whole Austrian-Hungarian Empire, but also in the Imperial Russia (in Lvov, they already had a warehouse of machines). To expand export to Russia, Antonín Knotek travelled there three times (e.g. to Kiev, Petersburg and Moscow). During the third journey in 1913, he was accompanied by the nephew Ladislav Knotek (son of Josef Knotek), who remained there and got married in Moscow. He returned from Russia with his wife Olga in 1918. In the firm, there were approximately 50 employees. On 1 May, the first public manifestation took place in Jičín. The workers of the Knotek factory also took part in the manifestation.

1896
The last of the brothers, Václav, became a partner. After his arrival, it was decided about the focus of the subject of activity on mowing machines. The grey cast iron foundry is fully functional.

1899
The number of employees exceeded the first one hundred.

1903
František Knotek was elected the mayor in Jičín and he served in this position till 1907. Afterwards, he was more active in the municipality. He became the chairman of the local and district National Liberal Party (so-called Young Czechs), chairman of the District Savings Company, vice-president of the Administrative Board of the local railway Jičín - Turnov, vice-president of the Business, Trade and Industrial Centre in Hradec Králové, chairman of the Association of Manufacturers of Agricultural Machines and a member of many charitable associations. For his merit, he was awarded the title of the Trade Councillor and the Merit Cross with Crown. Responsibility for the plant was carried primarily by Václav, while Antonín was responsible for the shop and Josef for the foundry.

1904
In the firm Knotek a spol., the first harvester in the then Austria-Hungary was produced; it was manufactured till 1967, i.e. 63 years. Quality products had good sales and the factory was continually extended.

1906
On the right side of the road to Popovice, a modern joinery was built (nowadays entry object to the area), extensive wood workshops and a saw mill. In the same year, a house in the Valdštejn Square No.5 was purchased and the Iron shop was moved there from the house in the Ruská Street No.21.

1909
The administrative building and the villa for the owner were built. Within the season, one mowing machine was completed in the assembly line each 10 minutes.

1910
The founder of the firm František Knotek died. His share in the firm was taken over by his son, Ing. František Knotek jr., who had been well prepared for the work in the family firm by his father. He graduated from the Industrial College in Prague, Technical University in Hanover and he studied technical engineering in the Cormick factory in the USA. Buildings of the liquidated sugar factory were bought (according to the contract, the amount of 105,000,- CZK was paid and then other 100,000,- CZK).

1911
The buildings of the former sugar factory were modified to the assembly plant (after the War "knife workshop") and warehouses. Already 150 workers in the season.

1913
The foundry of malleable cast iron was built. Till that time, cast pieces had been purchased from the firm "Bratří Čermákové" in Hořovice.

1914 - 1918
The First World War. Gradual limitation of production. At the end of the war, older machines were repaired only.

1919
František Knotek jr. dies of Spanish flu. His share in the firm is inherited by sisters Milada and Anna. Later on, they sold the shares to uncle Václav for his son, Ing. Stanislav Knotek. In the same year, the co-founder of the firm Josef Knotek dies, too. His share in the firm is obtained by his son Ladislav Knotek.

1920
The foundry of grey cast iron was put into operation in a new building. In the old building of the foundry, a forging shop was established. In the period of the strike of the Češovice farm workers, a strike for increasing the "dearth fee" takes place in the Knotek firm, too. By the Decree of the Minister of National Defence, Ladislav Knotek received a state medal - "Revolution medal for active contribution to victory and as an expression of gratitude of the nation for liberation of the country".

1921
The co-founder of the firm Antonín Knotek dies. His share in the firm is inherited by his son Ing. Miloš Knotek. During the fire in a part of the foundries, various factory objects were destroyed. The Popovice industrialist Josef Hervert, husband of daughter of František Knotek - Milada, was appointed the proxy of the firm.

1923
The production of steel sickle knives and inserts into metal and cast fingers for cutter bars was started; they had been imported from Germany before.

1924
Strike of foundry workers from 29 September to 23 November. At the same time, constructions workers are on strike in the construction of the District hospital and the Agricultural School in Soudná.

1925-1926
Probably in these years, the Knotek brothers founded a new company in Nový Sad in the Balkans "ERMA, Knotek and partners". The company was in 100 % possession of the Knoteks. It concerned an assembly and painting plant of agricultural machines. It employed up to 400 workers. Parts for the assembly were imported from Jičín. In 1945, the plant was damaged by bombardment and then liquidated as a post-war claim against Yugoslavia. Correspondence of Ladislav Knotek in this matter lasted till 1955.

1929
The workshop for binders with a two-floor warehouse of binders was built as well as a new gatehouse on the left side of the administrative building. The foundry had 4 tempering furnaces in the building of the foundry and in 1930, because of increasing capacity, furnaces were built outside the building, too. The production was transferred from white malleable cast iron to black malleable cast iron. The firm was still divided in two parts along the road to Popovice.

1931
Production of bumpers and valve plungers for the Škoda plant became important. Cast pieces for the automotive industry accounted for 40% of the total volume of production of the foundry. The maximum weight of cast pieces was 200 kg.

1933
The climax of the economic crisis. The volume of production dropped to one third and employees were laid off.

1936 - 1938
The period of recovery and biggest boom of the firm. The number of employees increased up to 750 till 1938; the production included 8,650 different machines - e.g. 3,000 grass mowing machines, 2,200 grain machines, 480 binders, 800 rakes and 600 swatch turners. In 1936, the foundry of malleable cast iron extended with the tempering shop with six furnaces (later on an overhead workshop) was put into operation.

1939 - 1945
The Second World War. The production started to decrease again and the number of employees was reduced gradually to one half. The owners refused to take over military production contracts. As late as at the end of 1943, they were forced by the German authorities to take over the arms production, but it only accounted for 5% in 1943 and 11% of the production volume in 1944. It concerned especially parts for aircrafts, bottoms and washers for shells and parts for armoured vehicles.

1941
The house No.5 in the town square became the pride of the firm and of the town, too. It obtained a new facade and was equipped with modern shop windows. The production included light binders, self-binders with a car front, tractor binders with operation range of 244 dm, mowing machines, self-dumping rakes, six-cylinder swatch turners, combined turners with scraper, shamrock turners, feed crushers, potato top crushers,….

Firm after nationalization

1945
Very quickly after the end of the Second World War (24.5.), discussions about nationalization of the plant started. A nine-member plant council was elected from the workers; it was headed by Jaroslav Jiránek. On 27.7., the plant was transferred to the state administration and on 27.12. it was nationalized and included into the state-owned company Agrostroj, plant Knotex. The first director was the current chief engineer Ing. František Holý and his representative Dr. Hruška. Before the end of the War, the plant had 870 employees and after the revolution in May, about one half returned to the plant Knotek a spol. to be under the state administration. Before the nationalization, the owners of the plant were the descendants of the founders Ing. Miloš Knotek (son of Antonín), Ladislav Knotek (son of Josef) and Ing. Stanislav Knotek (son of Václav). After the nationalization, only the following stayed in the plant from the original owners - Ladislav Knotek (son of Josef) and Dr. Ing. Miloš Knotek jr. (grandson of Antonín) as a technical head of the foundry. Specialization of the firm in grass cutters and self-binders.

1946
After the nationalization at the end of the previous year, the plant KNOTEX becomes a part of the group Agrostroj with the central headquarters in Brandýs nad Labem. The group also included plants in Prostějov, Roudnice and Pelhřimov. The core products became binders, grass machines and potato diggers. On 8 October, the plant was visited by the President Eduard Beneš, who received a self-binder as a gift. In the same year, the plant was also visited by the chairman of the Revolutionary Trade Unions, Antonín Zápotocký, the future Communist President.

1947
In the foundry of grey cast iron, the first forming machine and a crane with electric drive were installed.

1948
Communist takeover. The workers created a plant unit of National militia and the management was gradually replaced by "working staff". Families of the founders were moved out. Stanislav Knotek with his mother and aunt from the villa on the left side and Ladislav Knotek with family from the ground floor of the villa on the right side and Václav Knotek with family from its first floor. Till his tragic death on 11 May, Miloš Knotek lived in the house between the foundries (the house was pulled down later on). The plant employed 1,026 workers. The production reached 5,000 grass mowing machines and 3,500 self-binders.

1950
Change of the name of the plant to Agrostroj Jičín, state-owned plant, and the production started to specialize in machines for harvesting cereals, forage crops and root crops. There were 1,317 employees in the plant with the average wage of 1,235 CZK.

1954
Completion of the reconstruction of the foundry of malleable cast iron, which belonged, at that time, to the most modern ones within the whole republic. Production of sugar-beef harvesters and potato diggers and sorting machines was started. Single-line potato digger is known with the nickname "Devil". It was produced till 1957 and the production reached 14,896 pcs.

1955
A recreation cottage was purchased in Velká Úpa, so-called "lower one".

1957
Liquidation of the road to Popovice, which had divided the plant in two parts - machinery part and foundry. The plant had had two gatehouses before that.

1958
The plant was subjected to the association "Agricultural machines and association of state-owned plants" with the registered office in Prostějov. On the basis of the decision of the Council for Mutual Economic Assistance, the plant is specialized in grass and grain harvesting machines and especially in the sugar-beef harvestors. A workshop was established in the prison in Valdice, where 60 prisoners were employed.

1959
Start of production of the first two-line machines for sugar-beef harvesting - cutter 2-OCN-1 and digger 2-VCZ. Cyril Voráč was appointed the new director.

1960
Completion of the construction of the machinery hall for the assembly of heavy agricultural machines (current hall 77) and start of production of machines for sugar-beef harvesting - cutter and digger. A new boiler house with 80 m high chimney and a gas house were also built. Another cottage was purchased in Velká Úpa, so-called "upper one".

1961
The Association of agricultural machines was moved from Prostějov to Prague.

1963
Miroslav Babák was appointed the new director.

1964
Cancellation of the foundry of grey cast iron and start of reconstruction and extension of the object for the production of inserted liners for combustion engines of tractors and trucks. Start of production of machines for precision sowing and cultivation of sugar beef.

1965
The first foreign tests of sugar-beef machines took place, namely in Latvia. The test results caused a great interest. The plant Mepol Libice nad Cidlinou was joined to the plant. The plant has 2,416 employees with the average monthly wage of blue-collar professions 1,572 CZK and in the white-collar professions 1,897 CZK.

1967
Start of production of inserted liners for internal combustion engines. Melting house with electric induction furnaces and cast house were built and machining lines were installed gradually. By the implementation of the production of inserted liners, the technical level of the plant was increased considerably. The production reached up to 1 million of inserted liners per year. The main customers were Zetor Brno, Liaz Jablonec nad Nisou, Avie Praha and ZŤS Martin. End of production of self-binders for crop harvesting, which were produced from 1904, i.e. 63 years. After 22 years, end of publication of the magazine "Jičínský agrostroják".

1969
In the area of small agricultural mechanization, a licence production of the motor mowing machine MF 70 and modular machine Terra of the firm Gutbrod was started. The originally imported engines were replaced from 1970 by engines produced in the plant JIKOV České Budějovice. The production of successful small tractors MF-70 reached in the first year (1970) 1,440 pieces and 3,440 pcs in the following year. The number of employees reached 2,611. The average ware was 1,979 CZK.

1971
Ing. Jan Smýkal was appointed the new director. Publication of the plant magazine called "Agrostroják" was restarted.

1973
New halls were built for the assembly of small mechanization MF-70 (object 112) as well as a warehouse for spare parts (object 111).

1975
Start of production of successful six-line automatic cutters (combine-harvesters) 6OCS. Agrostroj has the monopoly position in the production of sugar-beef machines and small agricultural mechanization within the countries of the Council for Mutual Economic Assistance (CMEA). Completion of the production of the hall for machine completion (object 113). A big fire in the warehouse of purchased material in the building of the former sugar plant destroyed goods with the value of 10 mil. CZK. The number of employees in the plant is 2,560 plus also 153 prisoners in Valdice.

1977
Start of operation of the machining line Alfing for inserted liners of the type LIAZ.

1978
The construction of a new assembly hall was completed for the assembly of big combine-harvestors, especially successful cutters 6OŘCS (object 150). The production of these machines reached 204 pieces, 225 pcs of type 6OCS, 602 sugar-beef thinners 6JECZ, 620 three-line cutters 3OCXA, 30 pcs of three-line diggers 3VCX-A to England and 603 diggers 3VCX-B to the USSR and 7,400 small tractors MF-70 (with two-stroke engines) and 73 (with four-stroke engines Robin).

1979
The current chief designer Josef Suchý is appointed the new director.

1980
The plant employs 2,786 employees with the average wage of 2,799 CZK and also 155 prisoners in the prison in Valdice.

1982
Completion of the construction of the central warehouse of materials (object 116), dispatching hall with a loading platform (object 115) and sanitary facilities (object 117).

1983
The state-owned plant was renamed to Agrozet Jičín, k.p. It is subjected to the general headquarters in Brno.

1984
Ing. Ludvík Kratochvíl from the general headquarters in Brno was appointed the new director.

1985
Extraordinarily cold winter. Nearly the whole January and February, temperatures dropped to minus 30°C, which had a negative impact on supplies of electricity and gas. Installation of co-ordinate measuring device from the Japanese firm Mitutoyo and cutting press Trumatic from the German firm Trumf. A new IT centre with the installed hall computer EC 1027 was put into operation. The plant employs 2,755 employees with the average wage in the blue-collar category 2,913 CZK and 3,159 CZK in the category of white-collar workers.

1986
The plant in Libice started to produce a variable system of engine tools with a mobile engine unit (VARI-system). The plant employs already 3,120 employees; the number includes about 500 in the plant in Libice nad Cidlinou and approx. 200 in the prison in Valdice.

1988
The range of products includes machines for sugar-beef harvesting (475 six-line cutters) and small agricultural mechanization (13 178 MF). Inserted liners form an important part of the production (1,017,260 pcs). The production of grey cast iron reached 12,181 t and malleable cast iron 4,140 t. The plant in Libice produced 11,200 pcs of small mechanization VARI. In the plant, there are 3,066 employees, of whom 365 are in Libice. The average salary is approx. 3,200 CZK. Ing. Jiří Hnízdo is appointed the new director.

1989
As the plant was heavily oriented on the markets of the Comecon, the change of the political system in 1989 resulted in a loss of the market, which accounted for over 90% of the sales, within a very short period of time. The following period was critical for the firm. The headcount reached 3,030 workers, of whom 364 in the plant in Libice.

1990
Creation of the independent state-owned plant Agrostroj Jičín and the branch in Libice nad Cidlinou became independent with the name MEPOL. Installation of the line of the Danish firm Ideal-Line Faaborg for the pre-surface and surface treatment of parts of agricultural machines, which was rebuilt in 1995, in connection with the implementation of the production of small mowing tractors, to "powder painting". Start of operation in the new canteen and kitchen for employees. The employees could choose from five meals and suppers were served, too. The price of lunch is 7.50 CZK. After an extensive amnesty of President Havel, the operation in the prison in Valdice was terminated after 32 years. The production reached 12,302 small tractors MF-70, 169 automatic cutters SC1-03, 200 three-line cutters SC1-301 and 160 three-line diggers SC2-301. Start of production of a two-wheel small tractor UNI. In the foundry of inserted liners, the casting machines were replaced with a twelve-position casting carousel. The headcount reached 2,501 and the average wage was 3,184 CZK.

1991
Change of the legal form from the state-owned plant to the state joint-stock company. Ing. Jaroslav Kalina, CSc. from VÚZT Prague was approved the chairman of the Board of Directors and Ing. Jiří Hnízdo was appointed the director. Other members of the Board of Directors were Ing. Vágenknecht (MP of the Czech Republic), Prof. Ing. Pick, CSc. (director of VÚZT Prague), Ing.Havelka (MOTOKOV Prague) and Ing. Kvapil, Ing. Hnízdo and Mr. Šesták on behalf of Agrostroj. The Supervisory Board included Ing.Vystrčil (Agria Brno), Ing. Bydžovský (KB Jičín) and Mr. Chramosta on behalf of Agrostroj. Work was gradually limited to 4 days and in some workshops to only 3 days per week. The wage difference is paid from 50% from state finances. On the basis of ecological reasons, it was decided about the liquidation of cupola furnaces in the foundry of malleable iron and about transporting molten metal from the melting house of inserted liners. Two machinery lines were purchased from Škoda a.s. for the production of inserted liners for cars ŠKODA 105 and ŠKODA 120.

1992
Ing. Josef Linhart was appointed the new director. After the shop Pramen in front of the entry to the area was closed, the company store of small agricultural mechanization and spare parts was opened. Search for the production programme continues - gas grills, small cutters, so-called "mice", clod crushers, forest winches, discharging bodies, girovators, etc. The production of traditional MF 70 still reached 8,300. There were 1,770 employees and the average wage was 3,777 CZK. At the end of the year, the employees were left at home with 60% of the wage.

1993
For the whole year, 75 workers from the machinery section commute to work in Škoda Mladá Boleslav. Usually, there is work in the company for 3 days per week only. The big assembly hall, which was originally intended for the assembly of big combine harvestors, was put into a joint-venture with the firm RONAL GmbH (manufacturer of aluminium discs for cars). In exchange of the deposit of the hall and the land, Agrostroj became a 30% owner of the company RONAL CR, s.r.o. The joint-venture plant became a new opportunity for employing approximately 400 people. The operation of the coal boiler house was terminated; it was replaced with three gas boilers. The new source of heat also supplied kindergarden Máj, Komerční banka and one district heating plant of the housing estate in the New town.

1994
Start of privatization of the company. The plant was included into the second wave of the voucher privatization, which started in the second half of 1994 and ended in the following year. A contract was signed with the firm GardenTech about the development and production of mowing tractors for the treatment of grass surfaces with collection of the cut grass. The automatic shaping line DISAMATIC was put into operation in the foundry of cast pieces.

Seco GROUP - foundation and development of a private joint-stock company

1995
The company was privatized after six rounds of the second wave of the voucher privatization. It resulted in the dilution of capital among 13,500 shareholders. In the completed privatization, the firm SECO, a. s. Turnov obtained a controlling interest in the company. Therefore, the plant became private property again after fifty years from the nationalization. After the privatization, the company was managed by Ing. Petr Klapák from the position of the chairman of the Board of Directors.

1996
Change of name to AGS Jičín, a.s. The company employs 1,180 employees. After the critical first half of the nineties, the production programme was stabilized gradually especially thanks to the introduction of production of small mowing tractors, realization of new casting furnaces, nearly complete transfer to the production of cast pieces from ductile iron for the automotive industry and in the area of inserted liners especially by the deliveries for the Finnish manufacturer of engines SISU Diesel.

A majority interest in two foreign companies was acquired with the objective to expand competitiveness of own products in the market. In late nineties in Bosnia-Herzegovina in the company TMD-AGS for the area of agricultural mechanization and in 2000 in China in the company AGS-Haizhu for the area of inserted liners. The interest in Bosnia-Herzegovina was sold in 2006 because the original plan was not achieved.

1999
Completion of development of four-wheel soil small tractor UNIMAX. Till the end of production in 2007, less than 200 pieces were only produced.

2001
The merger of the joint-stock companies AGS, SECO, Seco Trans, Seco GROUP and Eligius. The company Seco Trans became the successor company. In the foundry of cast pieces, two medium-frequency 3-ton casting aggregates from the German firm ABB were installed. Completion of the development of the mulching tractor CROSSJET; it is suitable for varied and untreated terrains. This tractor gradually became a hot favourite in the market. In 2006, the 4x4 version was also developed.

2002
Change of the name of the joint-stock company to Seco GROUP.

2003
Ing. Petr Fischer was appointed to the position of the chairman of the Board of Directors.

2004
In June, the general meeting of shareholders passed a resolution about restructuring of the company. The following core production areas were identified: foundry production, machinery production and production of tools and models. Consequently, it was decided about modernization of the firm and strengthening of production capacities. In connection with this decision, unused buildings and lands were sold and obtained financial means were gradually invested into repairs of buildings, roads, improvement of the appearance of the area and partially also used to decrease the credit burden of the company. Ing. Jaromír Dědeček was appointed to the position of the chairman of the Board of Directors.

2005
The mulching tractor FRONTJET was prepared for production. It concerns a tractor with mowing in front of the front axle and it is designed especially for treatment of parks.

2007
The production programme is stabilized with new projects. The production of inserted liners for the Swedish company SCANIA and production of mowing tractors for the US company Briggs Stratton.

2008
In 2008, the company celebrated 120 years from its foundation. After a very difficult period, required change of the produced range of goods and focus on different markets, especially in the nineties, the company is stabilized and increasingly more successful in the demanding European markets.

The current crisis, which hit especially the USA and the whole Europe, could not bypass a company with such prominent export focus as Seco GROUP. However, corresponding measures in the cost area were taken in time by the company and, therefore, its economic stability is not threatened.