In Brief: Farmacja Polska; Elektrim Megadex debts; American Express

The government is said to have accepted the plan to create a pharmaceutical concern, named Farmacja Polska, which will encompass Polfa Warszawa, Polfa Tarchomin and Polfa Pabianice. According to Józef Woźniakowski, the Deputy Treasury Minister, Ciech Polfa will for now be excluded from the process of consolidation, as it would prolong it by another two to three months. "We have to complete the consolidation before Poland joins the European Union," said Woźniakowski. (Parkiet, p. 3) ... Alstom Polska, one of the subcontractors upgrading the power plant in Pątnów, has given Elektrim Megadex (EM) just three day's notice to repay due debts of EUR13 million. IF the ZE PAK power plant group, which is the guarantor of the liabilities, decides to repay the whole amount, it is threatened with losing its financial liquidity. (Parkiet, p. 3) ... The American Express Bank has announced plans to open a domestic subsidiary. The decision is a part of the bank's strategy to develop cooperation, chiefly concerning money transfers and transactions with foreign countries, with financial institutions operating on the Polish market. (Rzeczpospolita, p. B7) A.K.