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Polish press review - Companies & Business | 09:08 02.08.2007 czwartek |
02/08/2007
ENERGY: Praterm to Enter Biomass Market - Polish power and heat firm Praterm decided to invest PLN 50-100 mln by 2013 in biomass production. The company has already bought Bio-Energia, an operator of four biomass heating plants with a total capacity of 14 MW. [Rzeczpospolita, Puls Biznesu, Parkiet]
GAS: PBG Hands Over Control over Gas Trader KRI - New investors injected EUR 20 mln into gas trader KRI, so far part of listed PBG group. PBG also sold some of its shares in the business for PLN 30 mln and reduced its participation to 44.24%. KRI may receive EUR 40 mln equity boosts this and next year. New investors include private equity houses RIT Capital Partners and Prospect Investment Management. [Parkiet]
FOOD: Poland Flooded by Cheap Meat from Western EU Countries - Imports of meat to Poland are growing, with their value exceeding PLN 1.5 bln in 2006. Polish retailers imported 41,600 tonnes of pork in the first quarter of this year. Polish producers claim that large retail chains prefer imported meat to local production and want the government to create a system of quality guarantees that would discourage imports. [Puls Biznesu]
AVIATION: Polish Airports Serve Record Number of Passengers in H1 - Polish airports served a total of 8.5 mln passengers in the first half of this year, up 27.4% year on year (y/y), much above the average growth for Europe and the world. A dozen or so regional airports for the first time had more passengers combined than the central airport in Warsaw, plagued by overcrowding and problems with the opening of its second terminal. [Wall Street Journal Polska]
AVIATION: LOT Polish Airlines Demands Coordinator at Warsaw Airport - Poland's flag carrier LOT demanded the appointment of a coordinator at the Warsaw Okecie airport. The company complains of poor coordination at Okecie, which is LOT's main base. [Puls Biznesu]
REAL ESTATE: Growing Number of Speculative Investors Want to Sell Rights to Properties - A large number of investors who entered into initial purchase agreements for apartments under construction now want to sell those rights. Analysts believe that up to 20% of apartments bought over the past year in large cities were speculative investments. If large foreign investors also decide to sell their properties, the prices of new apartments may start to go down after two years of an unprecedented rally. [Rzeczpospolita]
REAL ESTATE: Apartment Prices Start Growing Again - Apartment prices rose in most cities in July after a brief period of stabilization. According to an Open Finance report, in Warsaw the average price was PLN 8,775 per square meter, up 2.7% from June. The average value of a mortgage loan in Warsaw was PLN 482,000. [Wall Street Journal Polska]
REAL ESTATE: J.W. Construction Owner Mulls Buying Stock, Complains at Low Valuation - Jozef Wojciechowski, the main shareholder of real-estate developer J.W. Construction, is considering buying shares in his business. He believes that the current stock market valuation is below the company's fair value. Since the company's debut on the bourse, the company's capitalization has dropped by a third. [Parkiet]
RETAIL: Luxury Brands Enter Poland - Poland is increasingly interesting for top luxury brands. Fashion retailer Guess by Marciano will open its first shop in Warsaw in August and plans to open around 20 outlets within five years. Louis Vuitton and Chanel also plan a strong entry, hoping to open boutiques in the Daniel Libeskind-designed Zlota 44 residential building in Central Warsaw, which will open in 2009. [Rzeczpospolita]
Agencja Informacyjna Interfax
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