Prochem's Hungarian deal boosts exchange standing

Prochem signed a deal worth EUR 16.2 million with a Hungarian company Nitrogenmuvek to design and build a fertilizer production line. "We will start working on that project this year. However, most of the works and payments will be done in 2006," said Prochem president Marek Garliński. The contract is to be completed by January 2007 and is one Prochem's biggest deals. Nitrogenmuvek has also ordered Polish technology used in this country's nitrogen plants, for which it is about to obtain a licence. "We are entering the Hungarian market that is new to us. We want to widen the scope of our export activities. We are actively seeking new deals," explained Garliński. Prochem ended 2004 with revenues of zł.218 million against revenues of zł.84 million in 2003. The company's net profit for 2004 was zł.12.9 million, compared to zł.1.8 million in 2003. (Parkiet, p. 4) D.W.