Company Notes
The board of Debica, a publicly-traded tiremaker, approved an investment plan worth $100 million to be implemented by the year 2000.
The supervisory board of Bank Przemyslowo-Handlowy SA elected last week Janusz Czarzasty as the bank's new president. The board elected Czarzasty, who was formerly on the management board of Bank Pekao SA, after interviewing several candidates, including the bank's acting president Henryka Pieronkiewicz.
Insurance company Warta SA wants to raise its share capital to zl. 52 million ($21.6 million) through inclusion of zl. 17.4 million ($7.3 million) in reserve capital. The capital increase will increase the nominal value of shares from zl. 10 ($4) to zl. 15 ($6.25). The plan will be submitted for approval of the general shareholders meeting on Oct. 24.
Candy maker Wedel SA plans to increase its net profit in 1995 to $23 million from about $21 million in 1994, said Jozef Rutkowski, company president. Wedel also expects to increase its sales by over 50% to $220 million in 1995, against about $144 million last year. The company will spend $95 million by the year 2000 on investment and modernization. Rutkowski said the company could issue new shares to raise money for investments. PepsiCo Inc. has nearly 67% of Wedel's shares. The U.S. company plans to double its investment in Poland to $500 million by 2000 from the current $250 million, developing its fast-food outlets and modernizing Wedel.
The supervisory board of Bank Przemyslowo-Handlowy SA elected last week Janusz Czarzasty as the bank's new president. The board elected Czarzasty, who was formerly on the management board of Bank Pekao SA, after interviewing several candidates, including the bank's acting president Henryka Pieronkiewicz.
Insurance company Warta SA wants to raise its share capital to zl. 52 million ($21.6 million) through inclusion of zl. 17.4 million ($7.3 million) in reserve capital. The capital increase will increase the nominal value of shares from zl. 10 ($4) to zl. 15 ($6.25). The plan will be submitted for approval of the general shareholders meeting on Oct. 24.
Candy maker Wedel SA plans to increase its net profit in 1995 to $23 million from about $21 million in 1994, said Jozef Rutkowski, company president. Wedel also expects to increase its sales by over 50% to $220 million in 1995, against about $144 million last year. The company will spend $95 million by the year 2000 on investment and modernization. Rutkowski said the company could issue new shares to raise money for investments. PepsiCo Inc. has nearly 67% of Wedel's shares. The U.S. company plans to double its investment in Poland to $500 million by 2000 from the current $250 million, developing its fast-food outlets and modernizing Wedel.
