Plans to improve HSW's finances to be announced today

If the governmental agency gives the green light to the financial restructuring, the ailing steel mill will receive an aid package worth some zł.35 million. Zbigniew Nita, a spokesperson for HSW, said in a statement that the management also plans to convince trade union members that there is no way the company can go into the black without limiting employee compensations and initiating layoffs. In order for the plan to be accepted by the ARP, however, HSW has to save over zł.20 million by the end of 2004. The company has already announced it plan to dismiss 590 employees by the middle of this year. (Puls Biznesu, p. 9) A.K.