IGA foreign contracts spark drive for new parts plant - and share jump

Manufacture of the new commissions will be carried out in a new plant that is expected to be built in Nowa Sól. The costs of the investment have not been revealed. The management board has already submitted the motion for the registration of a new subsidiary, Groclin-Service. The construction of a plant in Poland is part of the investment program that also saw involvement in Ukraine. IGA's representatives confirmed that the projections of the capital group for 2004 have been fulfilled. The net profit was projected at zł.43-45 million (as compared to zł.34 million in 2003) and revenues stood at zł.510-540 million (zł.473 million in 2003). It is also suggested that the firm's current standing has prompted IGA's president Zbigniew Drzymała to consider purchasing shares. This news sparked an increase in IGA's value on the WSE by 0.5%, to zł.93. (Parkiet, p. 3) A.F.