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POLAND: Two more Polmoses up for sale - reports

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The Polish Treasury Minister has put two vodka makers up for sale, it was reported today. Stakes of 80% are to be offered in the alcohol producers Polmos Bielsko-Biala (PBB) and Polmos Jozefow (PJ). Decisions on the privatisation of the Polmoses in Szczecin, Sieradz, Lodz and Bialytok are expected shortly.

According to reports from Poland, Pawel Jagiello, president of Proinvest International, an adviser to PBB and PJ, was quoted as saying: "Potential investors can bid for the two companies as well as just one of them. Other reports suggest that the president of alcohol distributor Sobieski Dystrybucja, Waldemar Rudnik, will make a bid.

PBB forecasts net profits for 2003 to reach ZL3m (US$755,820) from sales of ZL240m. In the first nine months of 2003, the company tripled its sales against year-on-year. PJ posted a net loss of ZL1m in the first 10 months of 2003.

PBB may have to pay several million zloty in unpaid excess tax, suspended in 2002, under the condition that PBB meets its tax dues by 2005.


Sectors: Spirits

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