House of Prince Denmark tightens control, but plans no changes for subsidiary

House of Prince Denmark A.S, the biggest shareholder of the domestic cigarette producer, House of Prince Poland S.A., increased its share in its Polish subsidiary by 24.5%, to 75.5%. The shares were taken through an agreement between the current shareholders, Wolw Trading Establishment Liechtenstein and House of Prince Denmark, which is part of Scandinavian Tobacco. "There are no plans to change production, nor the composition of the management board of the Polish cigarette producer. Increased involvement of the Danish shareholder means House of Prince Poland S.A. is now an important part of the concern," said company spokesman, Grzegorz Zurawski. House of Prince Poland has a 13.4% share of the cigarette market and is a distributor of cigars, cigarillos and pipe tobacco. The company has been active since 1991. Its sales revenues for 2001 were zl. 1.1 billion. (Rzeczpospolita, p. B3) M.T.