Bridgestone/Firestone not interested in Stomil Poznan

The Treasury Ministry privatization consultant DGA has ended its pre-privatization review of Stomil Poznan. "Stomil stands a chance to find an investor that will pay a good price," said DGA representative Andrzej Glowacki. Stomil's privatization has been dragging because of its status as an arms sector company but is slated for early 2001. In 1998 Japanese tire producer Bridgestone/Firestone looked set to become a major investor, when it used part of Stomil's assets to create Bridgestone/Firestone Polska (B/F Polska). However, company officials maintain they are not interested in Stomil. "Bridgestone/Firestone has already invested over $100 million in B/F Polska and plans a total investment of $130 million. That is what we want to focus our interests in Poland on," said B/F Polska board member Mieczyslaw Pietraszewicz. (Puls Biznesu, page 5)