Government plans to rescue 2,000 jobs at Wagon after ARP pull out

Industrial Development Agency (ARP) has turned down a restructuring plan for Fabryka Wagon from Ostrowiec Świętokrzyski which was submitted by its new management. In this way, the company will have to file for bankruptcy. By this decision, the government intends to upgrade the financial situation of Wagon and rescue around 2,000 jobs. Wagon's liabilities have reached zł. 200 million and earlier, the representatives of the government suggested that Wagon's restructuring was only possible through the company's bankruptcy. ARP's president has stressed several times that, following Wagons bankruptcy, the receiver will continue production until the firm finds a new owner. According to Rzeczpospolita, the company has guaranteed contracts at least until the end of the year. Under the agreement of the strike committee signed with the company's new management yesterday, Wagon decided to suspend the today's planned strike. The head of the striking committee Grzegorz Majchrzak refused to say which companies had granted Wagon its guarantees for the purchase of materials for further production. (Rzeczpospolita, p. B4; Puls Biznesu, p. 6; www.onet.pl) A.Z.