Conflict looms with banks for PL over sugar mills debts

Contrary to statements made previously, German sugar group Pfeifer und Lange n (PL) has said it will not repay the zl.250 million debts of its Polish sug ar mills in full, but will seek to have a significant portion written off. P L acquired five sugar mills located in the Kalisz-Konin region from the Trea sury in August. Later this month PL is scheduled to present a debt restructu ring program which, it now reveals, will include part of the debt being canc eled. However, the ailing mills' creditor banks say they will not agree to t he proposal, as for months both PL and the Treasury Ministry which sold the mills have claimed that the debts would be repaid in full. (Puls Biznesu, p. 3) T.J.