Energomontaż Północ settles its outstanding debt problems

An almost zł.30 million debt arising mostly from commercial obligations will be reduced by 40%, with the remaining amount to be paid in 20 quarterly installments. "We are also negotiating repaying another zł.30 million debt to banks," said EP's president Wiesław Mariusz Różacki. The company closed last year with a zł.36.5 million net loss against a zł.2.56 million profit in 2002. The management claims that the enterprise has completed its restructuring, and despite lower projected revenues in 2004, the firm should have higher margins on its contracts. (Puls Biznesu, p. 8) M.M.