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The Warsaw Voice » Special Sections » September 30, 2011
Privatisation in Poland: Investor's Guide
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Sector Privatisation (2)
September 30, 2011   
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Under the Privatisation Plan for 2008-2011, approved by the government in 2008, more than 800 state-owned companies operating in more than 10 business sectors were slated for privatisation. The list included companies operating in key sectors such as financial services, energy, chemicals and petroleum products. The privatisation plan also covered companies operating in the machine-building, metal, electronics, electrical, distilling, food-processing, timber, paper, furniture and clothing industries, in addition to transport and forwarding, trade and services.

Moreover, minority stakes in former state-run companies and companies included in the NFI (National Investment Fund) Program were set aside for privatisation.

Many of the companies covered by the Privatisation Plan for 2008-2011 have already been privatised, but quite a few are still waiting for investors.

Companies to be privatised in the tourist sector:
Polskie Tatry S.A. has operated on the tourist services market for almost 20 years, providing hotel, restaurant and recreation services. Additionally, it deals with real estate lease and retail. The company’s strength is the attractive location of its hotels and pensions in the mountain resort of Zakopane and its vicinity. The Dolina Białego accommodation complex is composed of well-known guesthouses such as the Willa Pan Tadeusz, Willa Zosia, Pensjonat Telimena and Pensjonat Biały Potok. The company also owns the Tatry hotel. Built on Polana Zgorzelisko in the immediate vicinity of the large skiing area of Małe Ciche, it is Poland’s highest located hotel. The company has three-star accommodation for a total of 415 guests. It also owns a water park in Zakopane, which is part of the Zespół Antałówka complex. The water park water recreation services, with an indoor swimming pool, outdoor recreation thermal pool, torrent river, water slides, jacuzzi and whirlpools. Among the company’s holdings are several inns, restaurants and the 3.4-hectare Pod Krokwią camp site in an attractive part of Zakopane. In total, Polskie Tatry S.A. owns around 21 hectares of land in Zakopane and vicinity. The state holds a 71.87-percent stake in the company. The remaining 28.13 percent is owned by the town of Zakopane.

Hotele Olsztyn Sp. z o.o., based in the city of Olsztyn, the capital of Warmia-Mazuria province in northern Poland, offers hotel services as its core business. The company operates the Kopernik hotel and the Kopernik restaurant. It also has three other facilities: Podgrodzie-Noclegi, Czajka-Noclegi and the vacation center in Ostrów Pieckowski on Lake Wągiel, around 40 km east of Olsztyn. The Kopernik hotel provides 62 rooms, two conference rooms, a VIP lounge, hairdresser’s and beauty parlor, and is wheelchair-accessible. The Kopernik restaurant offers breakfasts for hotel guests, menu dishes, banquet and catering services and services for conferences. The company is 100-percent owned by the state.


Companies to be privatised in the construction sector:

Przedsiębiorstwo Budownictwa Elektroenergetycznego Elbud Gdańsk S.A. provides building services for the telecommunications, energy and general-construction sectors. It also manufactures and sells concrete pillars, precast foundations and related components. Its share in the market is around 30-40 percent. Elbud also builds wind farms and has a 8-10-percent share in the Polish market. Additionally, the company provides services for mobile phone operators and its share in this market is around 0.5-1.5 percent. The company is 100-percent owned by the state.

Poldim Dębica S.A.’s core business is in road building and repair. The company operates in the Podkarpacie and Małopolska provinces in southern Poland. It owns two asphalt production plants with a total capacity of 230 metric tons per hour. The company has infrastructure including conveyors, crushers, containers for loose material, doser equipment, weighing scales, vibrating plates, soil compactors, bitumen cutters and specialist laboratory equipment. The state holds a 49.45-percent stake in the company.

Kombinat Budowlany Kołobrzeg Sp. z o.o. is one of the largest construction and service companies operating in Kołobrzeg county in northern Poland, in the central part of the Baltic coast. The company operates in the public, industrial and residential building sectors. It also produces concrete and precast concrete components, steel structures, joinery products, and flashings. It provides transport services and operates as a developer, selling apartments, garages and premises built on its own sites. Its main customers are state institutions as well as private firms and investors on the Kołobrzeg market. The company is 100-percent owned by the state.


Company to be privatised in the energy sector:

Elektrownia Chorzów S.A. deals mainly with the supply and sales of electricity and the supply of heat. Additionally, it operates in the area of transport and water supply and sewage disposal, and produces and sells utilities for the local market. The company also builds and operates environment-friendly coal-fired boiler plants and runs a fuel depot. It leases out office, welfare, manufacturing and warehouse space and provides laboratory, repair, mechanical, electrical, and construction services. The company plans to develop the production of fuel mixtures based on hard coal and diversify its activity through acquisitions and synergy. The company is 100-percent owned by the state.


Companies to be privatised in the service sector

Studio Miniatur Filmowych Sp. z o.o. (SMF) in Warsaw has made an important contribution to the history of the Polish film industry. It has operated since Jan. 1, 1958, when it was set up as a spin-off from Studio Filmów Rysunkowych (Animated Films Studio) in Bielsko-Biała. SMF has become a place for filmmakers to search for new means of artistic expression. It used to be regarded as a breeding ground for new talent and one of Europe’s most important animated film centers. Over the more than 50 years since its inception, SMF has produced almost 1,600 films for children, young people and adults, winning around 300 awards at home and abroad. Among the films are short and feature-length films, and episodes of film series produced using all kinds of animation techniques. The company is 100-percent owned by the state.

Studio Filmowe Kronika Polska Kronika Filmowa
Sp. z o.o. in Warsaw is a leading producer of documentary films in Poland, including the Polish Film Chronicle newsreel series produced since 1945. The company focuses on the production of original artistic documentaries dealing with various psychological and social problems and funded from both public and private sources. This year, the studio won a prestigious award for best producer of Polish short and documentary films at the Cracow Film Festival. Telewizja Polska S.A., Telewizja Kino Polska, TVN and Canal+ are the main customers for films produced by the company. It owns camera and lighting equipment, and two film editing stations. Kronika’s further development is based on the growing importance of public television and the popularity of documentaries intended for distribution in cinemas in Poland and beyond. The company plans to start the production of a special kind of films for children—ones that combine the documentary and animated film genres. It also plans new international co-productions. The company is 100-percent owned by the state.

Biprowłók Sp. z o.o. in Łódź (central Poland) provides designs and cost estimates for the construction and expansion of industrial plants using the most modern technology. It also prepares design documentation for the construction of banks and other buildings. The company is 100-percent owned by the state.


Retail-sector companies to be privatised:

Biuro Handlowe Polon Sp. z o.o. in Warsaw is the successor of Zjednoczone Zakłady Urządzeń Jądrowych Polon. It was set up in 1991 as a result of restructuring. Biuro Handlowe Polon is an authorized dealer for producers including Polon-Alfa Bydgoszcz, Polon Ekolab Gdańsk, Polon-Poznań S.A., Reyman Polon-Labor, Durcon, Maro, Casmet System, Profi and Ayala.

The company has many years of experience in the comprehensive delivery and installation of automatic fire alarm systems, ionizing radiation measurement devices, laboratory equipment and furniture. The company is 100-percent owned by the state.

Meble Emilia Sp. z o.o. was established as a result of the commercialization of a state-owned enterprise called Stołeczne Przedsiębiorstwo Handlu Wewnętrznego w Warszawie and was incorporated on the basis of the commercialization act. On Jan. 1, 2011, the company started operating in a new legal form. The Treasury holds 100 percent of the company, which is active in two areas: retail sale of furniture and rental of warehouse and office space. At present, the Meble Emilia retail chain comprises 13 furniture stores with a total area of 17,500 square meters, located within the Warsaw conurbation, which includes the capital (four Meble Emilia stores and one Emi Deco store) and in the vicinity of Warsaw (Piaseczno, Legionowo, Pruszków, Ursus, Otwock, Wołomin, and Grodzisk Mazowiecki), as well as the city of Toruń. The large stores target customers across the Warsaw conurbation, while the outlets in the satellite towns target the local markets. The company also sells furniture through an online store. The range of products available in the company’s retail chain includes leisure furniture and furniture for living rooms, dining rooms, bedrooms, hallways, and offices, as well as children’s furniture. The company works with 84 suppliers, including 73 furniture suppliers and nine suppliers of decorative products, home furnishings and furniture care products. The furniture offered by the company is medium-priced. Due to the nature of its operations within the retail sector, the company is not dependent on a specific type of customer. Its product range is very wide and targeted at middle-income consumers.

Przedsiębiorstwo Zaopatrzenia Szkół Cezas Sp. z o.o. in Białystok is active in the retail and wholesale sale of school and office furniture. Its main customers are schools, public administration institutions, hospitals, and nursing homes, as well as the police and military. The state has an almost 50-percent stake in the company.

Centrala Zaopatrzenia Górnictwa S.A. (CZG S.A.) in Katowice (Śląskie province) specializes in the sale of power lines, cables and wires. At present, the company’s core business is in the sale of lines for various applications manufactured by its subsidiary Polskie Liny Sp. z o.o., which is wholly owned by CZG S.A., and the distribution of high-quality slings, shackles, hooks, chains and other accessories. The company also trades in coal and spare parts for mining equipment, and deals with property lease. The state has a 25.05-percent stake in the company.

Cefarm Rzeszów S.A. in Rzeszów sells pharmaceutical products through its own chain of 47 pharmacies and a store with medicinal plants. It is a member of the ACP Pharma group together with Cefarm Śląski Katowice S.A. and Cefarm Zielona Góra S.A. The state has a 49-percent stake in the company.


Investors can also take part in the privatisation of companies in other sectors:

Zespół Zarządców Nieruchomościami WAM Sp. z o.o., through its 22 branches, manages properties throughout Poland. The company provides services to housing associations, condominium associations, the Military Housing Agency and various governmental agencies. The company manages 5,072 buildings, 162,851 apartments as well as commercial premises and garages with a total area of 9,273,316 sq m. Additionally, the company produces and distributes heat, and deals with water supply and sewage disposal. The state has a 49-percent stake in the company.

Przedsiębiorstwo Przemysłowo-Handlowe Nida Sp. z o.o. deals with the lease and management of its own real estate and other properties. The state has a 38.27-percent stake in the company.

Lubinex Sp. z o.o. produces and sells clothing. The state has a 34-percent stake in the company.

Lubuskie Fabryki Mebli S.A. manufactures high-quality upholstered furniture meeting stringent ISO standards. More than 90 percent of its output is exported, mainly to the Czech Republic, Germany, Britain and Slovakia. The company uses modern specialist machines in furniture production. It is a leading producer of upholstered furniture in Poland. The state has a 42.63-percent stake in the company.

Zakład Produkcyjno-Handlowy Artykułów gospodarstwa Domowego Mesko-AGD Sp. z o.o. manufactures kitchen equipment and household appliances, including blenders, meat mincers, vegetable slicers, pizza toasters, irradiation devices that kill bacteria in eggs, and meat and cheese cutters. It also produces lawnmowers and lighting fittings, and provides machining and pressure casting services. The company has over 18,000 sq m of land and buildings with a total space of over 17,000 sq m in the city of Skarżysko-Kamienna as well as fixed assets in the form of machines and equipment. The state has a 28.12-percent stake in the company.

Zakłady Naprawcze Taboru Kolejowego w Oleśnicy S.A. deals with the repair and modernization of locomotives and freight train cars as well as railway cranes. The company’s history dates back to 1913. It has repaired around 20,000 steam locomotives and more than 3,000 electric engines. It also manufactures conductor rails for rolling stock and spare parts. The state wants to sell a 25.5-percent stake in the company through auction.

Zakłady Maszynowe Hamech Sp. z o.o. in Hajnówka in northeastern Poland specializes in the production of machines for the timber and furniture industry such as wood drying kilns, woodworking machines and painting cabins. Another important line of products includes environment-friendly Dutch ovens and boilers for the burning of sawdust and wood chips as well as complete boiler plant equipment, with fuel storage and feeding systems, chimneys and control devices.

The company operates on both the domestic and international markets, with exports generating around 35-40 percent of its sales revenue. Most of its exports go to Eastern and Central Europe as well as the United States. The company does not have its own distribution chain. The state has a 100-percent stake in the company.


Investor Relations Centre (CRI)
Prospective investors interested in taking part in the privatisation of companies with State Treasury involvement may directly contact the Investor Relations Centre (CRI) at the Ministry of the Treasury.

The CRI’s staff gather information on companies undergoing privatisation, provide information on privatisation procedures and help interested investors contact the appropriate persons responsible for a given privatisation at the ministry.

www.msp.gov.pl/en
e-mail: investor@msp.gov.pl
Tel.: (+48) 22 695 90 01/02
Fax: (+48) 22 629 98 38
The CRI’s address: ul. Krucza 36/Wspólna 6, 00-522 Warszawa
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