Spanish Campofrio rumored to be considering withdrawing from Morliny

Spanish Campofrio rumored to be considering withdrawing from Morliny There are rumors that Spanish company Campofrio after buying three meat plants in Spain and the US is looking to withdraw from the Polish market. Morliny, of which Campofrio owns 98.3%, denied the rumors. Spokesman Tomasz Mocarski admitted, however, that the Spanish owner was not satisfied with the company's financial results for the first half of the year. Morliny recorded zl. 700,000 in losses, on sales of zl. 175 million. Mocarski says the company should turn a profit by the end of the year. As part of Campofrio restructuring of Morliny 350 employees will be laid off by the end of 2002. Management says such steps will strengthen Morliny's position on the market and allow it to compete in the European Union (EU) market. (Parkiet, page 4)