Metro AG opening 30 marts, investing zl. 600 millionV
German concern Metro AG will open 30 additional retail outlets before the
end of 2002, at a total cost of zl. 600 million. "The turnover of our
various marts surpassed zl. 8 billion in 1999 and should reach zl.10
billion in 2000," said management board president Hans-Joachim Körber. He
also noted that Metro's five trade networks operating in Poland would
continue developing, but he was unwilling to discuss the financial results
of the separate companies. Unofficial sources claim that they have shown
losses.The company's 18 Makro Cash & Carry wholesale centers recorded a
net profit of zl. 80,400 last year. "We are undertaking an intensive
development program in Poland; making profit requires time. I estimate
that we need two years to make our activity in Poland profitable," said
Körber. Metro currently has 17,500 employees in Poland and estimates that
each of the 30 new centers will create between 400 and 1,400 jobs. The
concern has invested DM 500,000 in a co-operative program with business
schools in Poznan, Lodz and Czestochowa. (Rzeczpospolita, Oct. 14-15, p.
B2) M.M.
