Huta Katowice takes steps to found financial holding

Capital-Investment Group (HK GKI) owned 100% by Huta Katowice (HK) steel mill has sold its 19 subsidiary firms and is planning to privatize another five. After the restructuring of the mill's portfolio HK GKI and the 24 subsidiaries will operate as a financial holding. Although the process is to be completed in a few years, all the Huta Katowice subsidiaries except Zaklady Koksownicze Zdzieszowice will go under HK GKI control by the end of 2000. According to HK GKI chair Maria Kaczor, the holding's goal will be capital management of the companies spun off from Huta Katowice and controlling those firms in which HK holds shares. HK GKI started operating in April 1997. Huta Katowice is the group's founder and shareholder. HK GKI holds 100% in 18 companies with a share capital of zl. 140.8 million. (Puls Biznesu, page 6) J.K.