Shipping crane deal with Nordic company to lift the sagging Konin-based Fugo
Konin-based mining equipment producer Fugo is in talks with a Nordic
company and is expecting to close a lucrative zl. 40 million contract. In
the planned deal the Polish firm, trying to overcome financial
difficulties, would provide its anonymous partner with shipping cranes and
continue production until the end of 2001. Fugo authorities refuse to
comment on the contract. "Negotiations are still in progress, and will not
end for three months," said chairman Wojciech Staszak. The money from the
deal would be partly used for salary increases demanded by the staff. The
company, which has been operating since 1962 produces parts and mining
equipment for brown coal mines. Over the last few years it has also
carried out contracts for shipyards, metallurgy plants and power plants.
In 1995 it was privatized as a part of the National Investment Fund (NFI)
program. (Puls Biznesu, page 10)
