Bumar battles to win $500 million Iraqi arms tender

Bumar, an arms producer and exporter, has two weeks to present its offer in a $500 million tender to equip Iraq battalions with weapons. "We know that our competitors come from America, Ukraine, and there is even one firm from Cyprus. Bumar hopes to win the entire contract to supply all the battalions," said PHZ Bumar's general director Roman Baczyński. The Polish company will also propose financing the purchase. "Currently it is too early to present the rules of lending money for the order. We will finish preparing our offer over the next week or so," said Deputy Treasury Minister Andrzej Szarawarski. If Bumar wins the tender, then it probably will receive financial backing from a consortium of banks. According to Baczyński, the winner of the tender should be announced before the end of the year. Bumar hopes to post a small profit in 2003. Over the last 12 months, the company has won foreign contracts worth over $580 million. (Parkiet, p. 4) M.M.