Polish Business Survey

Alan Heath
opublikowano: 27-11-2000, 00:00

Polish Business Survey

BNP-Dresdner Bank about to go

BNP-Dresdner Bank, present in Poland for five years and specialised in corporate banking, may be about to pack its bags. The reason for this is the breaking of the agreement in September between the joint owners, the French BNP-Paribas and German Dresdner Bank. It would appear that the Germans do not like the French bankŐs acquisitionâs policy. The two banks have been in dispute for the past six months.

At the moment the shareholders are still talking. Michał Kozarzewski, a member of the board at BNP-Dresdner in Poland has suggested that some agreement between them may be possible.

Brau-Union eyes up Gdańsk

The news this month that Zywiec wanted to close its breweries in Gdańsk and Lancut has caused a stir amongst the brewing fraternity. It is rumoured that the Austrian brewers Brau-Union are interested in the Gdansk facility. However it is little likely that Zywiec would sell the brewery to one of its competitors, especially as it has such a strong market position in northern Poland with major breweries in Elbląg and Braniewo. It certainly also would not give up the Hevelius brand name which is owned by Elbrewery.

Another plan for the brewery is an employee buy-out. The 187 members of the workforce would receive around PLN10m in compensation from Żywiec for the loss of their jobs. This, of course, is far too little to pay for a brewery that is worth PLN60m. However the workforce is united in its stand against the closure on 1 January 2001.

Steel dumping goes west

The Zawiercie and Ostrowiec steelworks together with Stalexport have been accusing Russian and Ukranian suppliers of dumping metal onto the Polish market for almost one year. The eastern prices are around 15 percent cheaper in Poland than domestically produced steel. Ironically producers from the USA and Canada are now accusing the very same Polish companies of dumping onto their markets.

Budget plan for 2001 under threat

Meeting the governmentŐs deficit target of 1.6 percent of GDP for next year could well prove to be impossible due to the problems with this yearŐs finances. A shortfall of around PLN3.7bn is expected in 2000 and many analysts think that this money could be shifted into the costs for next year.

The budget deficit which was planned for 2000 at PLN15.4bn has been reached and cannot be increased. However it is highly likely that local authority debt will increase and that this will be shifted onto next yearŐs costs.

Pressure on open skies

The Commission of the European Union is putting Poland under pressure to accept its open skies policy. If it is enforced then the biggest loser will be Lot who will face stronger competition from abroad.

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Podpis: Alan Heath

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