WSK PZL Rzeszów to invest $26 million this year

Domestic jet engine producer WSK PZL Rzeszów plans to spend $26 million on i nvestments in 2003, to be designated for further renovation of its productio n plant, acquisition of new equipment and environmental protection measures. The plant, the privatization partner of which is American concern Pratt&Whit ney, will produce F100 engines for the Polish version of the F-16. Due to th is, the company's management is convinced that it will receive part of the m oney from the offset deal. Company president Marek Darecki said that Pratt&W hitney spent $14 million on investments in 2002 and injected a further $50 m illion into the plant. Money was spent among other things on creating reserv es for employee bonus payments. WSK PZL ended last year in the red due to a slump in the aviation market and creation of privatization reserves. (Puls B iznesu, p. 12) M.M.