Inspectorate critical of investments in auto companies Daewoo and Jelcz

According to a report prepared by the Supreme Board of Inspection (NIK) on investments in the automotive sector, the losses incurred due to failed investments are estimated at over zl. 550 million. NIK claims that the management of the bankrupt Polish-Korean van producer Daewoo Motor Polska (DMP) from Lublin purposefully acted to the detriment of the company. NIK reports that DMP's investment in the British company LDV has resulted in losses of zl. 121.5 million. NIK also critically evaluated the investments of Sobieslaw Zasada Centrum SA in commercial vehicle manufacturer Zaklady Samochodowe Jelcz. "Due to the slowness of the Treasury Ministry, Sobieslaw Zasada Centrum was relieved from its obligation to purchase part of a stake in Jelcz owned by the Treasury. As a result, the Treasury lost at least DEM 4.785," says the report. (Rzeczpospolita, p. B4) A.Z.