Polish Business Survey
Bitburger aims at third position
The Brosman and Kasztelan breweries, part of the Bitburger group, are attempting to take third market position in national beer sales from Okocim by major investments in their production capacity.
Bosman, like the Kasztelan brewery from Sierpc near Płock, is owned by the German Bitburger. Sierpc, whose 1998 - 2003 modernisation plans will cost around PLN140m when finished, wants to sell around 65m litres this year. Combined production means that they are one of the leading domestic producers and indeed threaten Okocim.
Sźdzucker may get Silesian sugar
By Wednesday at the latest, the French Saint Louis Sucre will accept or refuse changes in connection with its attempt to obtain Silesian sugar concern ŚSC, The German Sźdzucker, who is also bidding for the company, believes that the treasury should now also consider their offer.
Emalia builds a holding
The Emalia porcelain company from Olkusz near Krakow has formed two dependent companies to add to the four it already has. The first of these two will concentrate on tableware which makes up for 54 percent of entire production and the second on aluminium products. The company s strategy is to break each different production line into dependent companies.
Attempts to block Elektrim
On the 30 June the shareholders of Elektrim will vote on the board s decision to concentrate on telecommunications and the Internet. If the meeting decides against this proposal a planned bond issue will be threatened. Several investment funds, which include Templeton and Schroders are now trying to buy up as many Elektrim shares as possible before the meeting in order to collect the 25 percent of votes required to block the issue.
Okęcie tender announcement imminent
The tender to build the second terminal for Warsaw s Okęcie airport will be announced in the next few days.
Wide band telecoms link planned
Lublin based Pro Futuro has announced that it is to build a wide band telecommunications network. This will cover the entire country and cost USD100m to bring about.
Privatisation delay killing Polmos
The delay in privatising the Polmos concerns is worsening the financial condition of the companies as well as being the main reason for their market position falling further behind. Last year their market value was estimated at around USD1bn, today it is around USD600m - USD700m. Furthermore it is obliged to give the treasury 15 percent of its net profits and dividends, something which private companies do not have to do.