Questions raised by Mittal Steel Poland profits investment

The funds have allowed the firm to acquire bonds from its investor Mittal Steel, worth almost $500 million. According to sources, some of the bonds could also be transferred to other subsidiaries of Mittal Steel Poland. "Thanks to this move Mittal Steel Poland will post significantly higher profits than interest on bank deposit," said Jacek Mireński, the company's PR manager. He would not reveal any details concerning the interest on the bonds, nor their maturity. However, trade unions and steel sector representatives do not trust the investor, fearing the funds may never be returned to the domestic company. Recently South Africa accused Mittal Steel of pumping $100 million out from the country. "I know nothing about consuming profits for purchasing bonds. I will visit the company on Tuesday and hope to receive all relevant information," said Stanisław Speczik a deputy with the Treasury Ministry, which is also minority shareholder in the firm. (Puls Biznesu, pp. 1, 3) M.M.