Component firm to take on 300 staff thanks to EU

Although the investments were initiated earlier this year most of the money will be spent during Q4. The money is being invested in new equipment, with EUR 1.2 million being devoted to implementing an integrated management system. This year Stomil expects to generate zł.43.8 million in net profit, with zł.316 million from sales. After the first three quarters the firm's net profit amounted to zł.41.9 million. Stomil Sanok's president Marek Łęcki claims that even though the company's results are good the situation on the market is not easy, mainly because of high oil, aluminum and steel prices. The company produces various rubber articles for car manufacturers and white goods producers. Łęcki disclosed that thanks to zł.4.6 million in EU subsidies the firm will employ 300 more workers by the end of 2005. (Parkiet, p. 4) A.F.