In Brief: Elektromontaż-Export; ZG Polmos sold; Tymbark; Kredyt Bank

Ailing publicly listed company, Elektromontaż-Export, announced a new plan to avoid bankruptcy. Company representatives have already begun talks with the Industrial Development Agency (ARP) concerning a debt restructuring plan. The company has also been of interest to an anonymous investor who has accumulated over 7% of the share capital. (Puls Biznesu, p. 11) ... A contract for the sale of an 85% stake of Zielona Góra Polmos vodka producer, owner of Luksusowa brand, was finalized yesterday between Swedish Vin & Spirit and the State Treasury. The contract was worth zł. 129.2 million. (Gazeta Wyborcza, p. 27; Puls Biznesu, p. 8) ... Domestic juice and drinks producer, Tymbark, owned by the Maspex Wadowice group, announced plans to spend zł. 33 million this year on further investments. (Puls Biznesu, p. 4) ... The management of Kredyt Bank announced in a statement yesterday that its 2002 financial results had to be adjusted due to creating extra reserves for irregular credits. The net loss of the bank, which amounted to zł. 328.3 million, were increased by zł. 87.5 million, to reach zł. 415.8 million. (Gazeta Wyborcza, p. 26) A.K.