In Brief: Optimus; Kredyt Bank on its losses; Krakowska Fabryka Armatur

Optimus, a leading IT sector company, announced plans to lay off 50 of its 230 strong workforce by the end of this year, or in early 2004. Company representatives say that this is due to its cost cutting strategy. (Parkiet, p. 5) ... Following yesterday's news that Kredyt Bank recorded a loss of zł. 335.4 million during the first nine months of 2003, the bank's directors said that Kredyt Bank will post a profit in 2004. (Rzeczpospolita, p. B7) ... Krakowska Fabryka Armatur (KFA), the largest producer of bathroom and kitchen taps will take over a competing company in the sector later this year. The name of the acquired company was not revealed. The acquisition is a part of a wider plan to build a capital group which will be able to successfully compete with such giants as Cersanit and Koło Sanitec. KFA plans to devote zł. 20 million to create this capital group. (Puls Biznesu, p. 9) A.K.