PLO faces bankruptcy without quick capital injection and privatization plan

The firm's survival plan envisages urgent capital injection and privatization, with such players as Gdynia Shipyard S.A., insurer Warta and the Industrial Development Agency (ARP) expected to take part. PLO operates ten entities with business dealings ranging from shipping and warehousing to marine insurance. The firm employs 2,300 workers and owns 34 ships. PLO subsidiaries that are already in a state of bankruptcy include POL-Atlantic, which services the North American route. Euroafrica and POL-Levant are the only subsidiaries that have no liquidity problems. (Rzeczpospolita, page B3)