IT concern Telmax swallows up utilities industry IT providers

After having acquired Galkom and Informa, which provide IT networks for power companies, Telmax recently paid zł.3.6 million for a 50.3% stake in Warsaw-based Kom-Pakt, a company servicing water-supply and heating companies. In 2003 Kom-Pakt's revenues were zł.12 million. The projections for the year 2004 call for net profits of about zł.800,000. One of the company's clients is Poland's largest heat provider, Stołeczne Przedsiębiorstwo Energetyki Cieplnej i Miejskie Przedsiębiorstwo Wodociągów i Kanalizacji w Warszawie. The purchase of Kom-Pakt was financed with Telmax's own capital, and over the next two years Telmax plans to take over the remaining shares. (Parkiet, p. 4) A.F.