Polish Business Survey
Armatura to move
Kraków based KFA Armatura has announced that it will build a new production facility next year. Proceeds from the sales of its current property should exceed PLN50m, the company intends to devote PLN20m of this to upgrading its machinery.
Advisor for HSW to be chosen
The treasury has announced a tender to decide the privatisation advisor of Huta Stalowa Wola steel works. Management has also been promised that it will receive extra capital, but it will be less than half of the PLN212.7m it was hoping for.
Banks toughen up on leasing
Representatives of the leasing organisation KPL have met their counterparts from the banking profession. Henceforth the banks will only finance those leasing projects that meet their increasingly harder conditions.
Leta deadline today
Today is the deadline for applications to be in for series G Leta shares. The cost of the shares is PLN3 each and the company is hoping to raise PLN14.4m in this way.
Feeling beefy
Representatives of the meat industry are not expecting any repercussions from the Polish blockade of beef from Spain, Holland, Belgium, Germany and Denmark in force since 28 November. On the contrary they are expecting to generate more sales to the west from the fear of locally produced meat.
Polmos not paying dues
It has been announced that at least five of the state owned Polmos companies are not paying their taxes. The finance ministry considers that the Polmos companies owe over PLN100m, the worst offender being Polmos Sieradz. Yesterday employees of this company protested outside the finance ministry demanding that their company have the right to buy spirits without which production has halted. The workforce fears the company will shortly go under.
Buying into ISPs
The Danish TeleDanmark has offered to buy all the stock of Softbank’s Internet Service Provider. The Danes are prepared to pay around USD35m for them.
New entrants to UMTS stage
Up to three new consortia may enter the UMTS tender procedure. The largest of these is the Spanish Telefonica which has sent letters of intent to nine Polish firms. The Turkish Rumeli managed to come to an agreement with PZU Życie, two Polish banks and Telewizja Familijna, although it is now rumoured that the Turks want out.