Competition forces Naftobazy to modernize while cutting size of workforce

Naftobazy, which specializes in the storage of liquid fuels, intends to spend up to zl.68 million this year on investment. The funds will be used to support the modernization of the company's storage facilities in Kawice, Malaszewicze and Emilianow. "The competition is forcing us to modernize and restructure our fuel stores. The IVG base in Radzikow is practically complete, and Poland's own PKN is gaining in strength," said Naftobazy president Jerzy Komorowski. Currently the company is carrying out a personnel restructuring program. Between January and the second half of April this year, 80 people have lost their jobs, reducing the size of Naftobazy's workforce to 1,680. According to Komorowski, the lay-offs will continue. In another development, it is likely that the issue of Naftobazy's privatization will be submitted for discussion by the Cabinet Economic Committee (KERM), with the cabinet possibly deciding within a few weeks whether to go ahead with the plan. (Puls Biznesu, p. 4) A.Z.