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Friday, July 22, 2005

Globalization isn't always bad...

The WBJ:

PPM’s Danish takeover means meaty investments, succulent job prospects

PPM Agros Koszalin, a meat producer which went bankrupt two years ago, is to be taken over by a Danish investor. The name of the investor has not been revealed, but it has been said that the Danish company plans to start up the production line as soon as possible, irrespective of huge investments that will be involved in restructuring PPM and bringing it back on the market. They also plan to change the company's profile, and become a part of the fish rather than the meat processing industry. Additionally, they plan to hire about 700 people, which is a lot compared to the previous 400 employees. President of the Polish association of the fish processing industry, Jerzy Safader, thinks that a new Danish investor should not threaten the domestic market, as the product coming out from the Polish plant will be sold in Denmark's outlet markets. Moreover, the domestic fish processing industry is competitive in foreign markets with exports of EUR 400 million a year.


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