Polish Business Survey

Alan Heath
26-06-2000, 00:00

Polish Business Survey

Brok considers new brewery

Koszalin based brewers Brok have announced their intention of getting a ten percent share of the beer market selling around 250m litres annually. Holsten, owners of Brok have decided that 3.5 percent of the market that the company currently has is not enough. Therefore, in the opinion of BrokŐs MD, Tom Gresk, the company could well seek to acquire a new brewery with a production capacity of 100m litres annually. Up until now all investments have been financed through the companyŐs own funds or from loans, this time the scale of the investment is so great that mother company Holsten is going to have to put its hand into its pocket.

The new brewery could well be from the south of the country, one possibility is the purchase of the Górnośląska brewery in Zabrze in Upper Silesia. This could lead to Brok becoming a national beer and not one which is localised to the Koszalin region. Nonetheless the Zabrze plant requires a lot of investment capital and Tom Gresk thinks a better idea might be to build a brewery from scratch.

Mitsubishi buys Polish materials

Gliwice based Izo-Erg, producer of electrical isolation equipment is close to signing a five year contract with the Japanese Mitsubishi Electric. The Silesian company will be supplying epoxy-glass materials used in high power generators and believe that by next year shipments to Japan could triple from current amounts.

Concrete facility in Sieradz

Ytong Polska will be opening concrete production facility in Sieradz in eastern Poland at a cost of PLN90m. The official opening is expected in September and the plant will produce 200,000 cubic metres annually. Lech Misiewicz of Ytong Polska claims that the factory has been built in a modular fashion so that if necessary production capacity can be easily increased. Several hundred people will be employed at the plant.

Ytong has been in Poland since 1991. Five years ago it opened its first factory in Ostrołęka which is still its largest plant in this country. Annual production of its concrete is around 400,000 cubic metres.

Ytong Polska belongs to the British Readymix.

NIK criticises EU spending

Government spending to bring Polish institutions in line with EU demands cost over PLN176m last year and plans were almost 100 percent realised. However the State Control Commission (NIK) has claimed in a report that money was not always spent were it was meant to be.

Insurer to increase capital

Today the shareholders meeting of insurer Gerling Polska will vote on increasing its share capital from PLN14.3m to PLN19.3m. The company has improved results over last year by concentrating on packets for small and medium sized business and limiting car insurance.

Pioneer to sell pension fund

Pioneer has decided to sell its pension fund which may well be bought by Allianz. It would seem that Citibank, owner of Dom and Polsat, joint owner of the Polsat fund, are also considering leaving this market.

No cash in July for Turów

The issue of eurobonds for the Turów power station may well be delayed if Standard and Poor does not finish their rating research before the 20 July. A second company, Fitch Ibca, has been hired to complete the due diligence. In the case of delay the power station will have to wait for its USD250m to September and not receive it next month as was originally planned.

Rivalry for Internet monitoring

Three independent organisations want to control the amount of visitors to sites on the Polish internet in a similar way to which the press is controlled. Two companies AGB and SMG/KRC have a made a joint offer as has press watchdog ZKiDP. The owners of Internet providers have for five months been trying to get an agreement on which company can provide a uniform monitoring service. It has been argued that certain companies are afraid to come to a common agreement as they do not want everyone to know exactly how few hits they are getting.

Investor for Gdańsk refinery

An offer for the purchase of shares in Rafineria Gdańska may be made in September or October. It has been learned unofficially that privatisation advisors JP Morgan have recommended a strategic investor being brought in to the refinery. Nafta Polska should confirm this recommendation before the end of the week and then the paperwork will find its way to the treasury.

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Podpis: Alan Heath

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