Amica seeks deal with LG after talks with Electrolux fail

The Warsaw Stock Exchange (WSE) listed Amica, Poland's largest home appliance manufacturer, has entered into an agreement with LG Electronics whereby the Polish company will be able to sell its goods on West European markets bearing the LG logo, which would mirror a similar agreement with Samsung. "I can confirm we have begun cooperation with LG," said Wojciech Kaszynski, Amica's CEO. Amica plans to sell around a million shares to LG, which is over 11% of its total share capital. Amica sought this deal after negotiations with Electrolux fell through. The sale of shares should be completed by mid 2002, and they will shortly sign an agreement on a public reissuing of a million shares on the WSE. "We have already chosen the financial institution to run this operation," said Kaszynski. (Puls Biznesu, p. 4) A.K.