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The Warsaw Voice » Business » February 6, 2008
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Business in brief
February 6, 2008   
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PGNiG in Libyan Deal

Geofizyka Kraków, a subsidiary of the state-owned Polskie Górnictwo Naftowe i Gazowe (PGNiG) oil and gas corporation, has formed a joint-venture company with Libya's Barari company to conduct geological research and estimate Libyan oil and natural gas deposits. The new business, called Geofizyka Kraków Libia, will be based in Tripoli. The Polish company holds 60 percent of the stock in Geofizyka Kraków Libia.

Fiat Exports at High Ebb

The Fiat Auto Poland factory in Tychy, southern Poland, produced 361,800 cars last year, including 260,700 Fiat Pandas. Over 96 percent of its output, or 348,400 cars, were exported to a total of 60 countries. The value of the factory's exports totaled 2.61 billion euros (zl.9.5 billion).

Delivery Van Sales Soar

Last year marked a new record in delivery van sales in Poland. According to the Samar company, which monitors the country's automotive market, car producers here sold 53,600 delivery vans weighing under 3.5 tons, almost 35 percent more than in 2006. November was the best month for delivery van makers, with over 6,000 units sold, while January was the slowest month, with sales not exceeding 3,000 units.

More Renewable Energy

By 2020, fifteen percent of all energy consumed in Poland will have to be produced from renewable sources, under the latest proposal from the European Commission. At the moment, renewable energy such as wind power, solar energy, hydropower and biomass, accounts for only 7 or so percent of Poland's total energy consumption. Ninety-four percent of Poland's electricity production is based on coal.

New Aircraft for LOT

LOT Polish Airlines has contracted to buy 12 mid-range Embraer planes made in Brazil. The aircraft will arrive Poland in 2009-2012. "This transaction will allow us to gradually replace the Embraer 145 aircraft currently in service with more modern planes," said LOT President Piotr Siennicki.

Hanza to Open Polish Factory

Swedish corporation Hanza will launch production of electronic components in Poland. Hanza is a new company formed by a group of investors, including a few well-known Swedish industrialists who bought Przedsiębiorstwo Montażu Elektronicznego Arotronic, a private electronic assembly company in Żuków near Gdańsk in northern Poland. The Żuków facility will be renamed Hanza Electronic and produce electronic products for communications and medicine. In its first year, the factory's sales are expected to exceed 7.3 million euros. Over three years, Hanza wants to become a leading provider of electronic components for Scandinavian industry. The company also has a production facility in Estonia.

Bioton to Sell Insulin in China

Polish company Bioton plans to start selling insulin in China in the second quarter of this year. This is after a Chinese government agency has approved the clinical data of the drug.

Daimler Eyes Poland

Poland and Romania are the front-running sites for a new Daimler car factory, according to Automotive News Europe. The service says both countries have low labor costs and convenient locations enabling easy transportation to Western Europe. Daimler wants to produce Mercedes A- and B-Class cars in the new factory.

Wawel to Invest in Ukraine

Polish candy maker Wawel plans to invest over $20 million in Ukraine. The Cracow-based company wants to open a confectionery factory in Ivano-Frankovsk after converting a local facility that produces over 3,000 tons of candy per year. Wawel exports 44 percent of its output to various European countries.

Selena to Make Silicon in Indiana

Selena, a Polish producer of chemicals for the construction sector, has opened a silicon factory in Elkhart, Indiana, USA. The facility targets customers in the United States, Canada and Mexico. The factory in Elkhart is Selena's ninth plant so far and its fifth silicon production facility worldwide. Other Selena factories are located in Poland, Italy, Brazil, South Korea and China.

NBP Exchange Rates February 4, 2008

1 EUR = zl. 3.5670
1 USD = zl. 2.4082
1 CHF = zl. 2.2079
1 GBP = zl. 4.7579
100 JPY = zl. 2.2538
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