Partek chisels out a deal to acquire 80% in Miedzianka

Partek Nordkalk, part of the Finnish engineering group Partek, has paid $18.5 million to the Treasury for an 80% stake in the limestone company KZPW Miedzianka. Partek plans to invest a lump sum of about $14 million, which Miedzianka's board president Wieslaw Rakowski says will be used to modernize the plant and boost efficiency, and should increase revenue by $8 million. Additionally, Partek is offering a very attractive employment package, which includes salary increases, 5-year employment contracts, and privatization bonuses for the 400-strong staff. Partek considers its new acquisition a long-term investment and part of a wider strategy of active participation in the Baltic markets. Partek is also promising Miedzianka, which has a processing capacity of 3 million tonnes, a bigger share in foreign markets. (Prawo i Gospodarka, page 2) P.S.