Severt Polska's new plant to be inside Mielec Special Economic Zone

Severt Polska, a Polish-German company processing metal parts, will construct a plant, which will now fall within the Euro-Park Mielec Special Economic Zone. The estimated cost of the investment is around zł. 10 million and it should be completed by mid 2007. "We will pay for 87% of the construction work from our own funds, while the rest will be financed through loans," said deputy president and co-owner of Severt Polska Andrzej Kloc. Severt had planned the investment earlier, and thanks to the initiative of the company and town officials from Gorlice, the plot was included in the zone. "It is good that we have became part of it, as we shall benefit from income tax exemptions," said Kloc. According to the management of the company, at the end of 2003 the firm should post results similar to those in 2002 when it had profits of zł. 1.29 million on revenues of zł. 12.77 million. (Puls Biznesu, p. 9) M.M.