PIA Piasecki seeking "essential" financial backing

Kielce-based general contractor PIA Piasecki has revealed it is holding talks with a sector investor, aimed at guaranteeing it has adequate funds to survive the current difficulties on the construction market. Supervisory board chairman Andrzej Piasecki told Puls Biznesu, "Considering the current crisis on the construction market, a sector partnership is an imperative." He added that when dealing with large contracts it is essential to have financial backing from a strong sector partner. Company representatives declined to reveal the identity of the possible investor. PIA Piasecki is currently carrying out tenders in partnership with Besix of Belgium and Max Bogl of Germany. The company is also considering a bond issue, valued at between zl.40 million and zl.60 million, with a decision expected during a general shareholders meeting on March 8. (Puls Biznesu, p. 9) M.T.K.