Property file
Fines for Mostostal Zabrze
Mostostal Zabrze has been ordered by the court to pay zł.5.9 million to electric filter plant Elwo of Pszczyna. Elwo was a subcontractor at the Mostostal M1 retail center project in Zabrze in 1998 and was forced to do extra work due to changes in the project's design. Mostostal has said it is planning an appeal and has filed a counter-suit demanding zł.1.36 million for delay in the completion of the work by Elwo.
Port investment
Port Gdański management company (ZMPG) has approved a seven-year infrastructure investment plan worth zł.1.875 billion ($500 million). ZMPG is set to close a deal with Deepwater Container Terminal Gdańsk to build the country's largest container terminal on January 28. The project, representing the first phase of the plan, is worth around zł.562 million ($150 million) and should be completed by 2007.
For the good of the country
Polinova, a bankrupt tar paper producer, has found an investor, the Oświęcim-based company's receiver has announced. After two failed tenders, Organika Azot chemical plant of Jaworzno acquired Polinova in a third tender for just under zł.1 million. The company's chief executive Jacek Okrutny cited "patriotic" motives as the reason for buying the country's oldest tar paper plant.
Gessel, B&B in Warsaw Towers
Warsaw Towers office building has reached an occupancy rate of 98 percent after renting more than 1130 square meters to two new occupants: Gessel law firm and trading company B&B products. DZT property consultancy acted on behalf of the building owner Europolis Invest, as it had on four previous deals closed over the last three months. The city center's average vacancy rate stands at 19 percent.
Outlet shopping
The Outlet Company is set for the upcoming opening of Sosnowiec Outlet Center in the south-western region of Silesia on February 11. CB Richard Ellis, TOC's exclusive leasing and marketing agent, expects the occupancy rate to reach 75 percent by the time of the opening, with many global brands already signed up. The company also plans to open a center in Gdańsk in the last quarter of this year and is working on three more centers in Warsaw, Wrocław and Poznań.
Pharmaceutical production set to begin
Hexal Polska, the Polish subsidiary of German pharmaceutical company Hexal, has finished constructing its production and trade center in Warsaw, at an estimated cost of zł.60 million. "The sales department is already operational. We have to wait a few months before we can launch production, but in the fall we will commence large scale manufacturing," assured Hexal Polska president Andrzej Trzeciakowski. The plant will produce a variety of pills and capsules, but to begin with, it will manufacture nine versions of three drugs. "Afterwards we will shift production of all drugs sold in Poland from Germany. At present, this amounts to 32 products in about 100 versions, but the list will expand," said Trzeciakowski. Hexal will employ 200 and the investor expects a return after seven years.
The company is planning further investments of between zł.45-60 million in about three to five years, depending on the result of current operations.
Reduta
TK Development has found new occupants for its commercial and office center CH Reduta in Warsaw's Aleje Jerozolimskie. Hortex Holding a producer of soft drinks and frozen foods and Axel Springer Polska, the publisher of Fakt and Newsweek, among other publications have both rented office space. Jones Lang LaSalle acted on behalf of the building owners, while Colliers International was the agent of Hortex and DTZ acted for Axel Springer.
Sales up for Goran
Goran, a Lublin-based windows producer, recorded a 37 percent increase of sales in 2003. The company, which employs 150 people, made zł.1.2 million profit on revenues of zł.30.7 million. Most of its production is exported to Lithuania, Ukraine, Germany, the Netherlands and the US. This year the company forecast revenue growth of 20 percent and plans to invest around zł.1 million in IT and upgrading its machinery.
Olsztyn land sale still on hold
Indykpol, an Olsztyn-based meat processing company, is still awaiting the decision of the mayor of Olsztyn concerning its property in that city. The company would like to sell it to Macro Cash and Carry but the municipality has been unwilling to issue a permit for the land to be used in this way. Indykpol hopes to raise zł.12 million from the sale.
Polimex building sold
Polimex-Cekop sold its office building in Warsaw to Wasko, a Gliwice-based telecommunications company. The property's book value stands at zł. 4.4 million, while Polimex-Cekop is said to have earned zł. 10.4 million from the sale.
Chorzów Carrefour
Carrefour, the French supermarket chain, is set to acquire around 9 hectares of land in the center of Chorzów, Silesia. The property is valued at zł.20.5 million and the deal is expected to be signed in May.
Mostostal Zabrze has been ordered by the court to pay zł.5.9 million to electric filter plant Elwo of Pszczyna. Elwo was a subcontractor at the Mostostal M1 retail center project in Zabrze in 1998 and was forced to do extra work due to changes in the project's design. Mostostal has said it is planning an appeal and has filed a counter-suit demanding zł.1.36 million for delay in the completion of the work by Elwo.
Port investment
Port Gdański management company (ZMPG) has approved a seven-year infrastructure investment plan worth zł.1.875 billion ($500 million). ZMPG is set to close a deal with Deepwater Container Terminal Gdańsk to build the country's largest container terminal on January 28. The project, representing the first phase of the plan, is worth around zł.562 million ($150 million) and should be completed by 2007.
For the good of the country
Polinova, a bankrupt tar paper producer, has found an investor, the Oświęcim-based company's receiver has announced. After two failed tenders, Organika Azot chemical plant of Jaworzno acquired Polinova in a third tender for just under zł.1 million. The company's chief executive Jacek Okrutny cited "patriotic" motives as the reason for buying the country's oldest tar paper plant.
Gessel, B&B in Warsaw Towers
Warsaw Towers office building has reached an occupancy rate of 98 percent after renting more than 1130 square meters to two new occupants: Gessel law firm and trading company B&B products. DZT property consultancy acted on behalf of the building owner Europolis Invest, as it had on four previous deals closed over the last three months. The city center's average vacancy rate stands at 19 percent.
Outlet shopping
The Outlet Company is set for the upcoming opening of Sosnowiec Outlet Center in the south-western region of Silesia on February 11. CB Richard Ellis, TOC's exclusive leasing and marketing agent, expects the occupancy rate to reach 75 percent by the time of the opening, with many global brands already signed up. The company also plans to open a center in Gdańsk in the last quarter of this year and is working on three more centers in Warsaw, Wrocław and Poznań.
Pharmaceutical production set to begin
Hexal Polska, the Polish subsidiary of German pharmaceutical company Hexal, has finished constructing its production and trade center in Warsaw, at an estimated cost of zł.60 million. "The sales department is already operational. We have to wait a few months before we can launch production, but in the fall we will commence large scale manufacturing," assured Hexal Polska president Andrzej Trzeciakowski. The plant will produce a variety of pills and capsules, but to begin with, it will manufacture nine versions of three drugs. "Afterwards we will shift production of all drugs sold in Poland from Germany. At present, this amounts to 32 products in about 100 versions, but the list will expand," said Trzeciakowski. Hexal will employ 200 and the investor expects a return after seven years.
The company is planning further investments of between zł.45-60 million in about three to five years, depending on the result of current operations.
Reduta
TK Development has found new occupants for its commercial and office center CH Reduta in Warsaw's Aleje Jerozolimskie. Hortex Holding a producer of soft drinks and frozen foods and Axel Springer Polska, the publisher of Fakt and Newsweek, among other publications have both rented office space. Jones Lang LaSalle acted on behalf of the building owners, while Colliers International was the agent of Hortex and DTZ acted for Axel Springer.
Sales up for Goran
Goran, a Lublin-based windows producer, recorded a 37 percent increase of sales in 2003. The company, which employs 150 people, made zł.1.2 million profit on revenues of zł.30.7 million. Most of its production is exported to Lithuania, Ukraine, Germany, the Netherlands and the US. This year the company forecast revenue growth of 20 percent and plans to invest around zł.1 million in IT and upgrading its machinery.
Olsztyn land sale still on hold
Indykpol, an Olsztyn-based meat processing company, is still awaiting the decision of the mayor of Olsztyn concerning its property in that city. The company would like to sell it to Macro Cash and Carry but the municipality has been unwilling to issue a permit for the land to be used in this way. Indykpol hopes to raise zł.12 million from the sale.
Polimex building sold
Polimex-Cekop sold its office building in Warsaw to Wasko, a Gliwice-based telecommunications company. The property's book value stands at zł. 4.4 million, while Polimex-Cekop is said to have earned zł. 10.4 million from the sale.
Chorzów Carrefour
Carrefour, the French supermarket chain, is set to acquire around 9 hectares of land in the center of Chorzów, Silesia. The property is valued at zł.20.5 million and the deal is expected to be signed in May.
