Ferrum plans third shareholders meeting to close books

The management of steel pipe manufacturer Huta Ferrum will call its third shareholders' meeting in six months, in hopes that investors will finally approve financial reports and the net profit sharing plan. The two major shareholders, investment fund KFI Colloseum and Izostal have already failed to grant such approval on two occasions. Now the management, desperate to close the 1999 accounting year, plans to call another meeting before Oct. 30. The frequent shareholder meetings are accompanied by even more frequent changes at the post of president. Jerzy Bradecki was dismissed from that post on July 12 and replaced with Tomasz Pogwizd. He resigned after just a week, citing personal reasons, and was succeeded by Henryk Pfeifer. (Puls Biznesu, page 5) T.J.