Indykpol to incorporate Lyna and Frednowa

Poultry producer Indykpol plans to incorporate its two subsidiaries, Lyna and Frednowa, as a part of its group restructuring and cost cutting program. The first company to be incorporated will be Lyna. The final decision as to Indykpol's merger with the company is expected during its shareholders' meeting scheduled for June 17. Lyna's assets currently stand at almost zl. 5 million and it produces zl. 3 million in annual revenues. According to Indykpol spokesperson Krystyna Szczepkowska, the company would also like to incorporate another subsidiary, Frednowa, in which it holds 87%, by the end of 2003 and is considering incorporating another sector player, Eldrob, by mid-2004. Indykpol's current stake in Eldrob exceeds 47% but Inykpol intends to increase its stake by acquiring a further 30% from Rolmex at a cost of zl. 9 million. (Parkiet, p. 5) J.K.