News Parkiet

Energy

Key PGNiG customers

may switch to other suppliers

Zakłady Azotowe Puławy fertilizer manufacturer and several other major chemicals plans may scale down their purchases from PGNiG, state-owned natural gas monopoly because of rising prices. PGNiG, whose shares are listed on the Warsaw Stock Exchange since mid-September, is reportedly asking major clients to accept a price hike and new payment guarantees.

Information technology

ComputerLand reports lower earnings

Shares of ComputerLand SA, Poland?s no. 2 information technology group headed lower yesterday after the company released yet another disappointing quarterly earnings report. Warsaw-based group said its third-quarter profit fell to 3.6 million zloty ($1.1 million) from PLN 4.5 million in the same period last year because on lower profit margins.

Equity markets

Polish stockbrokers expand into Hungary

At least two Polish stockbrokers who became remote members of Budapest Stock Exchange begun trading in Hungarian stocks recently. Pekao?s CDM said it executed 261 trades in October alone, generating trading volume of some 2.8 billion forints, or 13.2 million US dollars. The other, DB Securities, executed over 1100 trades since August.

Manufacturing

Relpol shifts production to Ukraine

Electromagnetic relay maker Relpol SA said it plans to hire as many as 140 people at a new plant in Ukraine. Relpol Altera is expected to generate annual savings of some 1.5 million zloty, the company said in a statement.

Power industry

Rafako?s Elwo awarded contract at Boxberg

Filtering systems maker Elwo, part of the publicly traded Rafako power industry contractor said it was awarded a 13 million euro contract to design and build a new filtering system at Germany?s Boxberg power plant. Elwo won new contracts worth some 150 million zloty so far this year.