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FSO car plant earns PLN 31m in 2004

APA - Austria Presse Agentur
opublikowano: 26-08-2005, 13:22

Warsaw (Puls Biznesu) – Yesterday, at the general shareholders meeting of FSO, the Warsaw car plant, the financial results for 2004 were published. FSO had PLN 900m (EUR 222.3m) of operating income and PLN 31.3m of net income. Shareholders decided to spend those funds to cover losses incurred in former years and to put aside reserves.

Warsaw (Puls Biznesu) – Yesterday, at the general shareholders meeting of FSO, the Warsaw car plant, the financial results for 2004 were published. FSO had PLN 900m (EUR 222.3m) of operating income and PLN 31.3m of net income. Shareholders decided to spend those funds to cover losses incurred in former years and to put aside reserves. The consolidated net income of FSO group (FSO plus its subsidiaries) amounted to PLN 251m.

The supervisory board was changed yesterday, too. Oleg H. Papaszew, until recently the CEO of Ukrainian AwtoZAZ is the new member recommended by the Ministry of Treasure. AwtoZAZ gained control in FSO in June 2005. The Warsaw car plant, which was close to bankruptcy after Korean Daewoo withdrew, has so far exported 100,000 cars to Ukraine.

(PLN 1 = EUR 0.247)Poland/Enterprises/Automotive

 

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Podpis: APA - Austria Presse Agentur

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