RWE's major expansion plans may extend to Poland
According to unofficial information, the German power group, RWE is co
ntinuing its expansion plans and may invest between 5% to 10% of their euro
22 billion investment budget in Poland. "Poland is a very interesting market
for us,"said RWE CEO Dietmar Kuhnt. "We do not have specific plans yet, as
we are watching and waiting for a favorable opportunity,"he added. According
to Prawo i Gospodarka despite these assurances a major investment may be
difficult since RWE has spent, or is soon going to spend, euro 22 billion in
various takeovers. Kuhnt stated that RWE does not exclude the possibility of
new takeovers, especially in the USA and Eastern Europe. Recently the
company bought British Innology for euro 8.5 billion, securing itself a
position as the biggest power supplier in Europe. However the company has
increased its operational profit by 21.2% to euro 2,029 billion and net
profit by 26% to euro 621 million last year in compliance with its ann
ouncements from January.
(Prawo i Gospodarka, pp. 1, 11, Rzeczpospolita, p. B3) P.W.
