AwtoZAZ drives away with a 20% stake in FSO

"The investment plans of the investor now have to be assessed by the FSO restructuring team. The final contract will be signed by the end of June," said Deputy Treasury Minister Dariusz Witkowski. The factory presently has to prepare for the production of a new car model, which should be commenced in 2007, as until the of 2006 FSO has the right to assemble Lanos and Matiz cars. Minister Witkowski admitted that the deal has been signed without any declaration of AwtoZAZ concerning the type of car that would be manufactured in Warsaw. "The investor assured us that he was in the middle of advanced talks concerning the right to produce a new car. Signing a deal with us should facilitate the negotiations," said Witkowski. AwtoZAZ pledged to keep 2,200 jobs in the plant. (Puls Biznesu, pp. 1, 5) M.M.