German investor saves 305 jobs through acquisition of bankrupt sugar refiner

The Cukrownia Przeworsk sugar refinery, which declared bankruptcy several months ago, has been purchased by German concern Sudzucker for zl. 21 million. Sudzucker owns five sugar refineries in Poland. This transaction will allow the German company to increase its share of the Polish market to around 8%. Boguslaw Klimczuk, a Sudzucker representative told journalists that the buy out guarantees all the 304 jobs in the refinery for at least three years and that the concern has agreed to pay the refiner's outstanding liabilities of zl. 702,000. The plant, which has posted poor results, is located close to the Ropczyce refinery which has also been purchased by Sudzucker. A merger between the two is not likely for some time yet. (Rzeczpospolita, p. B5) A.Z.