Ciech aims to increase stake in Jelfa

Chemicals concern Ciech, already bidding for the purchase of 12.66% of drug producer Jelfa from insurance company PZU, is planning the acquisition of a further 30% in the company from the Treasury, Ciech's chairman Ludwik Klinkosz said yesterday. In March, Ciech's representatives will see the Treasury Minister to present him with plans concerning the three remaining state-owned Polfa plants in Pabianice, Tarchomin and Warsaw. Ciech claims its strategy will depend on the Ministry's reaction, though the company had already expressed its interest in the privatization of the plants some time ago. "We expect an answer within the next two weeks," Klinkosz said. Ciech's net profits in 2002 reached zl. 2.5 million against losses of zl. 49 million in 2001. (www.biznes.onet.pl) J.K.