In Brief: Philips transfers office to Łódź; PGNiG releases financial results; VF

The main reasons behind the decision are the lower labor costs in Poland than in Ireland. "Poland offers such possibilities which have to be appreciated," said Remco Steenbergen, general manager of the Irish center. (Puls Biznesu, p. 7) ... Polish Oil and Gas (PGNiG) published yesterday initial consolidated financial results for 2003. The enterprise has recorded around zł. 600 million in gross profits, with revenues standing at zł. 10.8 billion. (Puls Biznesu, p. 4) ... VF Polska, the subsidiary of American VF Corporation, the producer of Lee and Wrangler jeans, plans to open a new plant in Łódź by the end of this year. The cost of the new investment is estimated at $7.3 million, while the winner of the tender for the main constructor is to be announced by the beginning of next week. (Puls Biznesu, p. 6) A.K.