In Brief: Mitsibishi Bank; Cersanit sales up; Thomson modernization; BRE

The first Japanese bank in Poland, Bank of Tokyo-Mitsibishi (Poland) plans to open in April. The bank, whose share capital amounts to zl. 112 million, is hoping to win over Japanese companies in Poland as its main customers, but does not rule out the possibility of providing corporate bank services to other companies. (Puls Biznesu, p.3) ... The first quarter of 2002 saw a sharp increase in the sales of Cersanit's products with sales of sanitary and bathroom fittings up by 30% compared to the same period last year. (Puls Biznesu, p. 28) ... Thomson is to modernize the Warsaw glass factory in Piaseczno by the end of July, building a new furnace, a new cathode ray tube assembly line and production hall. The project, which will cost zl. 150 million, will be supervised by the French company, but 60% of this will go to Polish contractors such as Mostostal Czestochowa and Techma Wielun. So far Thomson has invested about zl. 900 million in Poland. (Puls Biznesu, p. 4) ... Yesterday BRE charged Elektrim zl. 10.7 million in virtue of guaranteeing a consortium credit for El-Net. Elektrim shares fell yesterday on the Warsaw Stock Exchange to their lowest level yet. (Puls Biznesu, p. 5) K.S.