Treasury Ministry delays floatation of Ciech

Chemical concern Ciech has become yet another company that long advertised as for sale, but which now is no longer on offer, as the Treasury Ministry decided to postpone floating the firm on the Warsaw Stock Exchange until next year. According to the Ministry, prior to its debut on the Warsaw bourse, the company should complete its restructuring. "We want to improve our results. This year we are aiming for at at least zl. 50 million net profit, while our revenues show grow by 10% to exceed zl. 2 billion. We are pondering the sale of some small assets," said Ludwik Klinkosz, the president of Ciech. The company is also planning to take part in the privatization of several pharmaceutical companies. (Puls Biznesu, p. 7) J.K.