ZM Mesko to form joint venture as part of F-16 offset package

On February 28 the government and Lockheed Martin will sign the contract concerning delivery of F-16 multitask jets. From this date, companies from the F-16 team will have 60 days to negotiate the terms of offset contracts, worth around $3 billion, with their Polish partners. The Skarzysko-Kamienna-based metal plant, ZM Mesko, has already announced plans to form a joint venture with a Norwegian company called Nammo, which is 45% owned by the Norwegian government, while stakes of 27.5% each are owned by Finland's Patria, and Sweden's Saab. In 2001 the turnover of Nammo reached $170 million. The company is expected to deliver new technologies used for ammunition production. "The new company, Mesko-Nammo, will primarily concentrate on trading and marketing activities. Later, Mesko will be restructured and its assets acquired by the new company," said Mesko head Artur Lysakowski. According to data from December 31, 2002, Mesko's fixed assets are worth zl. 136.82 million. The company however is currently in negotiations with its creditors to restructure its debt, which stands at zl. 200 million. (Puls Biznesu, p. 3) A.K.