Bumar closes two contracts worth $45 million with Iraq

According to the contract signed yesterday in Warsaw, the company will sell the Iraqi army, among others, 38,000 machine-guns and ammunition. It is highly probable that in February Bumar will sign another contract, this time for the supply of communication systems produced by Gdańsk based Radmor. The value of this deal will be USD 40 million. "These two contracts are quite tough, but at the same time they open new markets for our group," commented Roman Baczyński, Bumar president. The total value of the contracts so far signed between the Polish company and the Iraqi government is USD 320 million. "We are very pleased with Polish products and the supplies always come earlier than scheduled, which is very important for us," said Ziad Cattan, Iraqi Deputy Minister of Defense. Bumar group's net profit for 2004 has been initially estimated at zł.10.3 million, as compared to zł.7.2 million in 2003. (Parkiet, p. 7) A.F.