Elektrim hopes to ease its financial troubles through sale of Megadex

Elektrim announced it will sell its stake in Elektrim Megadex (EM), a general contractor in energy sector investments, at the end of the year. An offer has already been sent out to a number of companies and will be submitted to others over the next few days. Elektrim holds 98.7% of shares in EM, which were acquired for zl. 72.3 million. The State Treasury owns 1.1% and individual investors control the remaining 0.2%. In 2001 the group recorded revenues of zl. 498.4 million and net profits of zl. 5.9 million. The company is currently renovating a generator in the Patow II power station. The value of this contract is euro377 million, whereas the value of all EM's contracts exceed euro1 billion. "The offer to sell Elektrim Megadex is aimed at institutions with the guarantee that the company will continue to complete the Patow II project," said Ewa Bojar, Elektrim's spokeswoman. (Rzeczpospolita, p. B4) A.K.