Pekaes is doing fine - the search for an investor is on

The largest domestic trucking company, Pekaes, announced it is searching for a new investor. The 51% state-owned company which halted a planned IPO in 1999, said that it currently does not need to offer its shares to the public, as it has over zł. 20 million in cash which will be used to further its development. Company director Wacław Wojciechowski however, did not exclude an IPO claiming that, "It all depends on the government," adding that the company would be better off if it found an investor. The State Treasury announced that privatization of Pekaes will begin as soon as the company is restructured. "We managed to move in the right direction in 2002. We have recorded profits, and for the first time in a couple of years paid out dividends of zł. 0.15 per share. In the first quarter each company in the group had a positive result," said Wojciechowski. (Parkiet, p. 3) A.K.