Treasury to cancel Trzuskawica sale amid little interest

The Treasury Ministry says it will cancel the current tender for the sale of lime producer Trzuskawica and call a new one, due in large part to disappointing offers and little interest in the deal. Contributing to the Treasury's move was the decision of Belgian lime producer Carmeuse, one of the most promising contenders for a majority stake in the state-owned company, to bow out of the race, and Cementownia Ozarow cement maker's modest offer, which fell way short of the Treasury's expectations. The Treasury said that prior to calling the new tender, Trzuskawica's value would be reassessed. Industry observers believe it will likely attract the same investors as before, which include German construction materials producer Fels, France's Lafarge and Carmeuse. According to Trzuskawica head Kazimierz Kobos, the potential investor will be required to pledge roughly DM 60 million in investment in the company within the next five to six years. (Prawo i Gospdarka, p.2) J.K.