HSG Krosno glass works backs down over takeover plans

Krosno-based glass works HSG Krosno, one of the country's biggest blown-glass producers, has shelved plans to expand its capital group through the takeover of plants in Zawiercie and Boleslawiec. However, the company still plans to invest zl. 100 million by 2005. "'We have suspended our previous plans, but if we get a good opportunity for a takeover, we would certainly take advantage of it," said company president Jan Kurkus. Krosno might decide to sell its fibre-glass unit and, "'we are only interested in a strong sector partner, as we do not have to sell it at once," explained Kurkus. All the money will be spent on modernization of existing production lines, in order for the company to remain competitive. Krosno spent zl. 40 million on investments last year and this year the figure should amount to around zl. 15 million. (Puls Biznesu, pp. 1, 4) M.M.