In Brief: Huta Czestochowa; Daewoo Motor Polska lay-offs; Credit Agricole

Huta Czestochowa, which owes some zl.300 million to the Treasury and budgetary institutions, will have to decide soon whether to file for bankruptcy. The alternative for one of the country's biggest steel works is to convert its liabilities into shares and introduce a restructuring program. (Puls Biznesu, p. 4) ... Bankrupt Lublin-based van-maker Daewoo Motor Polska has begun introducing a redundancy program that will see its workforce of 2,000 cut by some 1,100. The layoffs are aimed at making the size of the workforce suited to the lower production levels envisaged by the company's receiver. (Prawo i Gospodarka, p. 4) ... Credit Agricole has announced the priorities in its strategy for the Polish market. The plans include splitting credit broker Lukas into two, the creation of a venture capital fund and a new Internet bank oriented to wealthy customers, and, first of all, the creation of a strong, universal bank holding. (Gazeta Wyborcza, p. 25) M.K. i Correction: An error occurred in our issue, Monday October 22, on page 3 (INTERNATIONAL) Under the headline "Hungarian press reveals ...", Poland AM wrote about an alleged case of bribery in connection with a shipyard in Hungary. In fact, the shipyard in question is in Varna, Bulgaria. Likewise, Nicolai Vasyliev is, of course, the Deputy Prime Minister of Bulgaria. We apologize for this error. Poland AM