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The Warsaw Voice » Business » October 26, 2012
Business & Economy
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In Brief
October 26, 2012   
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U.S. Tractor Maker Opens Center in Poland
American corporation Deere & Company, one of the world’s largest manufacturers of tractors and agricultural machinery, has opened a training and marketing center for Central Europe in Tarnowo Podgórne near the western Polish city of Poznań. In the first half of this year, Polish farmers bought more than 10,000 new Deere & Company tractors, about 20 percent more than a year earlier, according to Martin & Jacob, an agricultural market monitoring company.

Loans from EBRD
The European Bank for Reconstruction and Development (EBRD) will lend 25 million euros to small and medium-sized enterprises in Poland. Loans will be granted for five years through Polish cooperative bank Bank Polskiej Spółdzielczości (BPS) and selected other cooperative banks.

The credit agreement is accompanied by an EBRD grant for technical assistance. The grant will be made available through consulting firm Ernst & Young.

Skies Getting Crowded Over Poland
Polish airports handled almost 17 million passengers in the first eight months of this year, 2.4 million more than in the same period of 2011. Warsaw remains the busiest airport in Poland despite an about 6 percent drop in traffic in August. Cracow and Gdańsk come next, each with over 2 million customers in the first eight months of 2012.

Fewer Bankruptcies?
In September, 52 companies declared bankruptcy in Poland, 29 percent less than in August and 17.5 percent less than in September 2011, according to the country’s Export Credit Insurance Corporation (KUKE).

But the corporation says that the reduction in the number of bankruptcies could be coincidental because it contradicts the latest strong upward trend in this area as the financial condition of some industries and the economy as a whole continues to deteriorate. Despite the drop in the overall number of bankruptcies, there has been an alarming increase in the incidence of bankruptcies in industries such as furniture, mining and metal production.

Fewer Cars from Polish Factories
Polish factories are producing fewer cars. In September, under 52,600 passenger cars and delivery vans rolled off the assembly lines, 25 percent down on last year. In the first nine months of the year the Opel plant in Gliwice, the Fiat plant in Tychy and the Volkswagen plant in Poznań put out a combined 498,200 vehicles, about 22 percent less than during the same period last year.
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