Huta Czestochowa to be saved by Industrial Development Agency?

The Industrial Development Agency (ARP) has announced that it intends to help the Huta Czestochowa (HC) steel mill, which is very likely to file for bankruptcy in 2003. After acquiring the company it wants to encourage the New Szczecin Shipyard (SSN) to buy its steel at reduced prices. "We are analyzing the situation and know that we could set up a company on HC's assets. HC is the shipyard's natural supplier," said ARP president Arkadiusz Krezel. He hopes that banks will also engage in the new enterprise. A new company has a greater chance of receiving bank loans and paying back creditors. (Puls Biznesu, p. 3) A.Z.