Pfeiffer und Langen now controls 11 Polish sugar plants

German concern Pfeiffer und Langen purchased on Saturday a 51% stake in 5 Polish sugar plants, which are part of the Poznan-Pomorze Sugar Company. Although representatives of both Pfeiffer und Langen and the Poznan-Pomorze Sugar Company refused to disclose the value of the transaction, Gazeta Wyborcza reports that it could amount to at least zl. 95 million, adding that the 5 sugar plants' total debt is over zl. 235 million. Treasury Minister Aldona Kamela-Sowinska issued a statement on Saturday that the privatization of the 5 plants does not breach the Act pertaining to the establishment of the Polish Sugar Holding. The contract for Pfeiffer und Langen's new employees will give them a 30% raise, a 3-year employment guarantee and an advantageous 36 month redundancy package in case of any lay-offs. Pfeiffer und Langen already own 6 other sugar plants in Western Poland. (Gazeta Wyborcza, p. 18, Puls Biznesu, p. 7) M.T.K.