Mostostal Export sees light at the end of the tunnel
According to Michal Skipietrow, president of the board of Mostostal Export,
the economic outlook for the construction industry has improved slightly.
Over eight months in 2002 the company sold 142 of the 342 apartments it had
for sale - better than last year's result and more than anticipated in its
budget. Restructuring of Mostostal will include the sale of two subsidiaries
from the Delia capital group, the names of which remain undisclosed. "Three
companies are ready to buy the first and two investors are waiting for the
second," said Skipietrow. Mostostal Export also managed to find investors
interested in the purchase of other subsidiaries including Park Place
Investment, Lubicz Office Centre and Shopping Mall TGM. In addition,
Mostostal has earmarked redundant real estate valued at zl. 36 million for
sale, of which zl. 26 million worth has attracted the interest of investors.
The management of Mostostal Export has already decided to divide its capital
group as a result of restructuring into two parts - one of them dealing with
construction and the other with development. (Prawo i Gospodarka, p. 7) P.W.
