Tonsil supervisory board to propose new capital to help carry out restructuring

Today the supervisory board of Wrzesnia-based car stereo speaker producer Tonsil will present a restructuring plan for the firm. Last year the losses of Tonsil amounted to zl. 16.6 million. Since the company has no financial means to conduct the restructuring program successfully it needs a considerable increase of its capital. The management of Tonsil is considering issuing shares aimed at its shareholders including Japanese Tohoku Pioneer as well as financial investors which are interested in the capitalization of the company. Additionally, Tonsil needs as much as zl. 3.5 million for severance packages for 400 employees. The management also plans to tighten its cooperation with the car industry. "Currently, we produce car speakers for Daewoo and Fiat but we are also negotiating with Renault and Ford," says a member of the company's management Krzysztof Bednarek. (Puls Biznesu, page 3) A.Z.