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AAM of US chooses between Poland and Lithuania

APA - Austria Presse Agentur
opublikowano: 12-09-2005, 15:49

Warsaw (Puls Biznesu) – AAM, the U.S. producer of car parts, is looking for a site to build its plant. The investment is going to amount to USD 130m (EUR 105.4m). 361 people will be employed there. “We have been running the project for several months now but we haven’t received any reply”, Sebastian Mikosz, the deputy CEO of PAIIZ, the Polish investment agency said.

Warsaw (Puls Biznesu) – AAM, the U.S. producer of car parts, is looking for a site to build its plant. The investment is going to amount to USD 130m (EUR 105.4m). 361 people will be employed there. “We have been running the project for several months now but we haven’t received any reply”, Sebastian Mikosz, the deputy CEO of PAIIZ, the Polish investment agency said. AAM is running negotiations in Lithuania, too. The government of this country has offered a subsidy of EUR 13m. Poland will not be that generous.

 

“We have submitted our offer to the company. Let me remind you, however, that because of the investment of LG Philips, the largest in Poland’s history, we have also offered the company the highest subsidy ever. Therefore, we do not have much funds in our next year’s budget”, Marcin Kaszuba, the deputy Minister of Economy said.

The U.S. company was out of reach. AAM has plants in Michigan, New York and Ohio plus outlets and plants in Brasil, China, England and Scotland, Germany, India, Japan and Mexico. It is listed in NYSE. In 2004, it had USD 3.6 billion of sales and USD 466m of EBITDA.

(USD 1 = EUR 0.811)

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Podpis: APA - Austria Presse Agentur

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