Published: 8/21/1998

Since the beginning of this year, the Ministry of Economy is working on a project exploring how to privatise the whole military and aviation industry. The list contains 31 companies, which are vital for State independence. It currently appears as if all those companies are to be divided into five groups, which will differ in the percentage of shares available to investors. Some companies will be sold out completely, in others the state will remain in control or influence by having a golden share, a controlling package, minority package, or will not be sold at all. The strategic investors are to be found between large manufacturers active on the aviation market, as well as other investing organisations like banks etc, both domestic and foreign. Apart from Mielec, in which British Aerospace is interested, Lockheed Martin seems to be looking atPZL Warszawa-Okecie, while WSK Rzeszow has beentalking to several engine manufacturers. PZL-Swidnik has also been approached. So far the process is at a very early stage, as the most important document - the Governmental project - has not been finished and approved. (IN898.6) (MM)

Article ID: 246