Mounting OLM losses bad for Optimus holding's books
The management of Optimus Lockheed Martin ITG (OLM) has one month to cut
costs and present ways to expand its activity. Losses of Optimus holding
in the first half of 2000 almost doubled to zl. 15.5 million, because of
reserves created for loss producing OLM, of which the Polish company holds
a 51% stake. "Lockheed Martin is not withdrawing from OLM, but is still
waiting which is a good sign," said CDM Pekao analyst Maria
Skowron-Szafranska. She says there are two possible outcomes. OLM will
either freeze its activity or operate in another sector. "Optimus lost
control over some of its subsidiaries and now it seeks buyers for most
redundant ones," said Skowron-Szafranska. Problems with OLM originated
from the company depending on the government to start modernization of the
army's computer network. "Other companies waiting for army contracts, such
as Prokom S.A. and Ster-Projekt S.A. undertook some other activities and
OLM should do the same so as not to waste time," said Skowron-Szafranska.
(Prawo i Gospodarka, page 12)
