Elektrim Kable and Tele-Fonika KFK to merge cable production operations
Two cable production companies, Elektrim Kable and Tele-Fonika KFK, are
planning to merge within several years. At the end of February 2002, E
lektrim's shareholders will change the name of subsidiary Elektrim Kable as
well as its management board. "We intend to merge the two companies into one
entity, whose capital would be in the hands of a Polish company," said
Andrzej Babas, former president of KFK. "We want our group to become a
vital company on the European and world cable market." Babas refused to say
when exactly the merger would take place, adding that the merger of KFK and
Tele-Fonika took two years to complete. The total production capacities of
Elektrim Kable and Tele-Fonika KFK are estimated at $1 billion, but their
current production levels are much lower. In 2000 the two firms' total sales
reached zl. 2.5 billion. (Rzeczpospolita, p. B4) A.Z.
