Treasury confirms talks with UTC on WSK Rzeszow sale
The Treasury Ministry has granted United Technologies Corporation (UTC)
exclusive negotiating rights for the purchase of a stake in WSK Rzeszow.
Confirming earlier press reports, a Treasury statement said that the
US-Canadian company would be offered a stake of between 10% and 80% in the
aircraft engine manufacturer. Preparations for privatizing WSK Rzeszow began
two years ago, and earlier this year the Treasury chose two potential
purchasers, Fiat Avio of Italy and UTC. General Electric was also rumored to
be interested in the deal, but did not file a bid. WSK Rzeszow is one of
Poland's largest aviation companies. It specializes in the production of
engines for the Sokol helicopter. Its main client is Canadian company Pratt
and Whitney, which is part of the UTC group. The cooperation between WSK
Rzeszow and Pratt and Whitney dates back over 20 years. (Rzeczpospolita,
Sept. 1-2, p. B2) A.Z.
