Polish Business Survey
Capital needed for development zone
This month's shareholders' meeting of Tarnów's development zone Plastikowa Dolina will debate a proposed capital increase. Management wants to increase it by PLN300,000 — PLN400,000 which it hopes the local provincial government will finance.
BW plans share issue
Shareholders of Warsaw brewery BW will decide at their meeting on 30 December what to do about a proposed series E share issue. It is planned to issue 76,000 shares with a nominal value of PLN10 each.
DaimlerChrysler note improvements
The German DaimlerChrysler could be happy with this year's sales. The company has announced that it sold 2,150 cars in the first eleven months of this year — 479 more than last year.
Vans and lorries also noted improved figures with 3,110 sold in the same period as opposed to 2,860 for the whole of last year. Not all models were doing well however, sales of Vito were only 1,250 as opposed to 1,410 in the same period last year. Nonetheless sales of Sprinter increased to 1,050 as opposed to 900 in the same period of last year.
The company still hopes to do better. Heinrich Weber, MD of DaimlerChrysler's leasing company and bank, says that DaimlerChrysler hopes to sell around sixty percent of its vehicles through credit and leasing next year. This year it was around the 55 percent mark.
One major area of expansion could be selling buses and coaches. Heinrich Weber notes that this must be expected as carriers realise they must have vehicles that fulfil EU norms on the environment.
DaimlerChrysler has decided to abandon forming a company called DaimlerChrysler Capital Services which would finance large investment projects in the transport sector to include aviation, rail and shipping as well as construction machinery, industrial equipment and IT. It was originally hoped to register the company in November and to start trading at the end of the year.
Treasury could take German offer
Today is the last day to sell shares in the ZEW works at the price of PLN41 per share offered by the German SGL Carbon AG whose stake in the company is now over 75 percent. The treasury still has a 16.1 percent stake which it is likely to sell to the Germans.
Secret contract could ruin sale
Multico has received permission from the monopolies watchdog UOKiK for the purchase of a sixty percent stake in Toruń based Elana. However the potential buyer has only just learned of a social contract with the unions and this could cause the whole deal to collapse.
Pension consolidation expected
Industry analysts are now predicting that next year will see a lot of consolidation on the pensions market. This year there were only three mergers and of the original 21 pension funds there are now 18.