News Parkiet

Equity market

Strong rally lifts Polish blue chips

WIG20 blue chip index closed near this year?s high after gaining 1.9 percent yesterday, powered by gains among resource-related stocks. Shares of KGHM Polish Copper, one of the world?s biggest copper mines, surged 5.2 percent to an all-time high. PKN Orlen refinery rose 4.1 percent to 35.6 zloty, a new record.

Auto industry

Ukraine?s AwtoZAZ may buy former Daewoo plant, sources say

Independent Ukrainian car maker AwtoZAZ may take over Warsaw-based FSO auto factory, buying out its creditors. Four out of six banks that gave PLN 591 million zloty loan to former Daewoo unit in mid-1990?s are reported to have agreed to ZAZ? bid, sources told PARKIET yesterday.

Information Technology

Optimus to build supercomputer cluster for academic users

Optimus hardware-maker has signed a 2.9 million zloty contract to build a Linux-based supercomputer cluster for Polish universities. Nowy Sącz-based company said it would install 118 servers at various academic centers across the country. The system will be connected using fiber optic links.

New media

Interia to name new CEO this Friday

Poland?s third most popular Internet directory Interia.pl is expected to name a new CEO who will replace existing chief executive Tomasz Jażdżyński this Friday. ComArch SA software house, one of the portal?s two main shareholders, has already picked a replacement for Mr. Jażdżyński, who is set to leave the company because of disagreements over strategy with ComArch?s founder Janusz Filipiak. Ad sales manager Jacek Pasławski is the most likely candidate, sources close to the company said.

Building materials

Radpol first-half earnings double

Maker of heat-shrinkable tubes Radpol SA reported six-month earnings that were more than double last year?s figures yesterday. The company, which is controlled by US investment fund Tar Hell Capital, said it earned 2 million zloty, up 130 percent from last year. Sales were up 15.4 percent to PLN 10.4 million, or 2.9 million dollars. Radpol has already filed an IPO prospectus and plans to go public later this year.

Civil engineering

Polnord hits three-year high

Shares of Polnord civil engineering group surged 18 percent to the highest level in three years despite the absence of any news from Gdańsk-based company. Just days ago Polnord has announced a 105 million zloty contract to build several apartment blocks in Warsaw for Wilanów Investment, a local property developer.

Polnord has almost 10 million zloty worth of its own shares after the merger with Energobudowa late last year. It now plans to sell the stake, which represents 14.6 percent of all shares outstanding.