November 2010 nr 8(14)
Fashion’s fickled fortunes The industry produces big winners and losers – and Lodz’s Fashion Week aims to narrow the odds for aspiring designers
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November 2010 Table of Contents Fashion 4 Fashion’s fickled fortunes 6 LPP – How to make a fortune in fashion
Real Estate 8 City of Warsaw wins “pyrrhic victory” in arbitration case with ING Real Estate 8 Trójmiasto in brief
Business Profile 9 Poland’s king of bananas dreams of green tomatoes
News 10,12 Industry and Manufacturing briefs 11 TP SA sets aside 2.2 billion pln for arbitration loss with Danish firm 13 New Cos in KRS
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Fashion
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Fashion’s fickled fortunes The industry produces big winners and losers – and Lodz’s Fashion Week aims to narrow the odds for aspiring designers
While Poland’s high-profile and politicallysensitive industries such as coal mining and shipbuilding get the headlines and attention of politicians, one of the biggest industries – in terms of revenues and employment – gets little formal respect and support from the government. Yet the apparel sector – more elegantly known as the “fashion” industry – continues to grow rapidly in Poland, and has been the source of great fortunes and fame.
Marek Piechocki and Jerzy Lubaniec started out just fifteen years ago in Gdansk selling T-shirts to hypermarkets, and the value of their LPP empire – with its own brands such as Reserved and Cropp Town - means
untry. LPP has launched its House brand, targeting young consumers who have a strong connection to music in their lives, and Mohito, targeting women with refined and stylish clothing – and perhaps a direct, local challenge to Zara. And at the lower-end - second-hand clothing often imported from England, Germany, or Scandinavia and sold by weight – new shops continue to spring up.
Apparel and fashion industry world-wide The global fashion apparel industry is one of the most important sectors of the economy in terms of investment, revenue, trade and employment generation all over the world. Apparel industry has short product life cycles, tremendous product variety, volatile and unpredictable demand, long and inflexible supply processes. The clothing and apparel industry produces finished clothing products made from both natural and manmade fibers like cotton, silk, wool, lenin, polyester, rayon, lycra and denim. The important segments covered in apparel industry include kids clothing, mens clothing, clothing for women, bridal wear, mens wedding wear and intimate apparel. Apparel is sold through three major channels, including “brick & mortar” traditional retail shops, catalog and through internet. Traditional retail shops still account for nearly 90% of sales. The industry supply chain revolves around five major players: raw materials suppliers, textile and apparel plants, distributors, apparel manufacturers, retail store networks and the final consumer. The apparel manufacturing industry remains labor intensive and the manufacturing base is concentrated in Asia with China the dominant producer with more than 70% of the global market. Apparel exports of developing countries increased 600% in the last 20 years, while those of developed economies rose by just 150%. Worldwide, the apparel industry is estimated to generate total revn enues of more than USD 2 trillion.
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that each of the founders’ stake is worth more than 300 million pln. Shares in LPP have soared more than 4000% since their Warsaw Stock Exchange listing back in 2000. As Polish consumer income continues to grow solidly, consumption of clothing – in every niche segment – is posting impressive gains. International retailers and Polish entrepreneurs are battling for position, targeting niche sectors and sub-sectors and emerging consumers. At the top-end, international luxury retailers such as Burberry continue to expand in Poland. New entrants include Carolina Herrera, and top-brands such as Prada, Chanel and Louis Vuitton are soon to open in Warsaw. TK Maxx – with its low-cost, branded formula – is targeting the price-sensitive, fashion-conscious consumer with its new stores in Warsaw, which will serve as a beachhead for further expansion in the co-
Yet getting the formula right is a delicate balance – as seen by the near-extinction of the Monnari brand, among others. The apparel business is intensively-competitive, notoriously fickled and constantly changing.
Paris, Milan, and … Łódż ? While the fashion industries in France and Italy are recognized as engines of economic growth and employment – and even as a competitive advantage on the world stage – the industry in Poland suffers from a low profile among policy-makers and boosters of economic growth. But in the city of Lodz, two individuals are trying to change the perception of fashion in Poland and brand Lodz as the capital of Poland’s fashion scene. Irmina Kubiak and Jacek Klak are the energy and creative force behind Fashion-
November 2010
Fashion
www.bizpoland.pl Philosophy Fashion Week Poland, held twice per year in Lodz, including the most recent week in October. Their goal is to put Lodz on the same European stage as Paris, Milan and Madrid. For the last three years, their events have brought together key players in the fashion world, including clothing designers, buyers, retailers and producers. “The sector is a huge employer in Poland”, said Irmina Kubiak, “and is full of lots of small firms, often family-run, that pay taxes and increasingly have a positive influence on the national budget. And our Fashion Week brings together people from all parts of the sector, including designers, producers, fashion houses, retailers and their agents.” She said that just in Lodz the sector employs more than 100,000 people. Lodz’s fortunes rose on the back of the textiles sector, and Kubiak and Klak believe the city is well-positioned to carve out a niche as Poland’s fashion capital. The weeklong Fashion Week was supported by the City of Lodz, top media brands like Elle and TVN, and featured some of Poland’s top fashion designers such as Paprocki & Brzozowski, MMC and Agnieszka Maciejak – who has designed for top models Elle Macpherson and Helena Christensen.
Tailor-made Yet another sign of strength is the arrival of new competition in Warsaw for made-tomeasure mens suits. The pioneering team of M&S Fashions, present in Warsaw since the early 1990’s, and with a strong share of Warsaw’s corporate and business market at the very high-end, have been joined by new entrants such as the Italian brand Corsinelli, the Belgian brand Scabal, and Kris Tailor, a Polish-brand trying to position itself upmarket. Irmina Kubiak
But the most enthusiastic and awaited show of the Fashion Week is the annual Designer of the Year awards, which distinguished 16 up-and-coming young fashion designers from Lodz’s Academy of Fine Arts. The Academy is arguably Poland’s top fashion design school and has produced a plethora of fashion stars, including Dawid Wolinski and Mariusz Przybylski. These young fashion designers are fighting to be recognized in a highly-competitive industry, which is changing rapidly as product cycles are shortened and supply chains are extended to the deepest reaches of China.
Fickled fortunes Monnari, the once high-flying retailer, also presented at Lodz, and despite their financial troubles, the audience was enthusiastic about their designs. In late October, a district court in Lodz approved an arrangement with creditors to stave off a potential bankruptcy filing. Monnari’s revenues plummeted in the first six months of 2010 to 48.85 million pln from 95 million pln in the year earlier period, as the company ret-
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Fashion
www.bizpoland.pl Continued from page
New Talent: Every year new fashion designers emerge, trying to distinguish themselves, and with a flair for experimentation. Some of them showed their very first collection at Lodz’s Fashion Week Poland in October. Aga Paul. Agnieszka was born in 1978 in Myslowice. She experiments with forms, constructions and materials for her two lines: Pure for women; and Papa for men. Brevity and simplicity. www.agapaul.com
Asia Wysoczynska, born 1979 in Warsaw. Her creations are androgynous, unisex and inspired by Samurai warriors.
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renched and closed shops. The firm lost control of its expenses and expanded too rapidly after its IPO in early 2007, marked by the appearance of Claudia Schiffer at their fashion-show launch. Investors have lost 85% of their value since the listing (although shares have rebounded more than 150% in the last 3 months as Monnari looks to have avoided an imminent liquidation). Investors have also backed the fashion retailer Sunset Suits, which raised more than USD 11 million in 2008 in the U.S. via the Nasdaq stock exchange. Sunset, based in Poznan, is a retailer primarily of mens suits for a middle-market and young clientele. The company ran into trouble, as a small profit of USD 1.6 million in 2008 disintegrated in 2009 to a loss of USD 5 million. The firm continues a restructuring process that involves closing down most of its stand-alone shops in smaller towns and focusing on newly-
LPP – How to make a fortune in fashion Ewa Zwolinska, born 1981 in Warsaw. She experiments with portraits and pictures on T-shirts and canvases. She is successfully carving out a niche, off-beat following for her clothing designs.
Agata Wojtkiewicz. A designer with several awards to her name, including Zlota Nitka and Zlota Fastryga. Twice nominated as Designer of the Year. She has presented at fashion shows in Dusseldorf and Brussels. Marcin Giebultowski. Perhaps the bestknown jewelry designer in Poland. His jewelry is made from stone, glass and crystal. This was Marcin’s third time to present at Fashion Week.
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The story of LPP SA dates back to 1990s when Marek Piechocki (currently the President of the Board of LPP SA) and Jerzy Lubianiec (currently the President of the Supervisory Board) began to operate in the clothing branch as partners of a trading company Mistral, a civil partnership
In 1995 LPP was established. At first the company supplied a number of hypermarkets with T-shirts sewed in Asia. Later it decided to develop its own brand (RESERVED) and began to create its own retail chain sales. The company’s headquarters is located in Gdańsk, including designing resources for all its brands. The first RESERVED store was opened in 2000 and by the end of 2001 there were already 24 stores (of a total surface of approximately 7000 sqm.). Today it has more than 270 stores which are not only in Poland but also across 10 other European countries. The turn of the century was a milestone for LPP as it crossed over the revenue threshold of 100 million pln in 1999 and it was transformed into a clothing designing and distribution company in 2000. In the following years LPP entered the Warsaw Stock Exchange (2001) and foreign markets with its RESERVED brand: Estonia, Czech and Hungary in 2002 and Lithuania, Ukraine and Slovakia in 2003. In 2004 another brand CROPP TOWN (a youth brand) was created and introduced to the Polish and then to the Russian markets. Throughout the follo-
November 2010
Fashion
www.bizpoland.pl opened shops in high-traffic city-centre shopping malls. While the fashion battlefield is strewn with casualties, a combination of talent, luck and connections appears to boost one’s chances of getting noticed – whether for a new brand or an aspiring designer. Dawid Wolinski, a graduate of Lodz’s Academy, has carefully built up a network of elite fashion buyers in Warsaw, and his star continues to rise. His collections have been worn by Dita von Teese at L.A. film premieres, and he was recently recruited to be a judge on TVN’s Top Model reality show. But the founders of the Lodz Fashion Week believe that most of Poland’s fashion designers and fashion community need to be much more market-oriented. “Frequently Polish designers can not answer three simple questions: how much can you sell; how much can you produce; and when can you get it done? And without answers to these questions their collections will not even make it into Polish shops, much less abn road”, said Kubiak.
wing two years CROPP offered its products in Estonia, Slovakia and Latvia (2005) and Lithuania, Russian and Czech (2006). 2007 was another milestone in the history of LPP, as the firm crossed over the 1 billion pln revenue threshold. At the same time it launched its third own brand, ESOTIQ (exclusive women’s underwear). Today LPP SA owns several retail chain stores including 270 RESERVED stores across 10 European countries and 220 CROPP stores in 10 countries. Apart from its key brands, LPP offers also its products under such brands as : ESOTIQ - 58 stores, HOUSE - 290 stores in 11 countries and MOHITO 53 stores in Poland. HOUSE and MOHITO are the newest brands of LPP S.A. HOUSE is targeted at youth who find inspiration in music and for whom music is an inseparable element of life. Currently, with addition to 177 local stores, HOUSE is also present in 110 stores abroad. MOHITO is a women’s brand established on the Polish market in August 2008; it sells refined and stylish clothes in its 53 stores. The company owns one of the biggest and most modern distribution centres in this part of Europe. The centre is located in Pruszcz Gdański mainly due to its very accessible position (seaway and overland road). It covers an area of over 30 thousand square metres. It is situated on a lot of 17 ha. All transports of clothing to RESERVED or CROPP stores are dispatched from here to
November 2010
Natalia Jaroszewska. Elle magazine wrote that she is one of Polish fashion’s great hopes. She runs her own atelier in Warsaw, and works with show-business stars like Joanna Brodzik, Ola Kwasniewska, and Edyta Herbus. Her style is “200% woman”, says Elle magazine. In 2009, she created her own line of wedding designs.
Lukasz Jemiol. A graduate of Lodz’s Academy of Fine Arts, he’s received numerous awards, including Zlota Nitka and Oscar of Fashion de Lux. His designs are simple and use lots of high-quality silks, and are seen on movie stars and in films.
Agnieszka Maciejak. Also a graduate of Lodz’s Academy in the department of graphics, she uses strong contrasts in her designs, such as leather with silks. She has clients from Tokyo, Berlin and London, including Sharon Stone and Naomi Campbell.
reach Prague, Tallinn and Moscow and even Krasnoyarsk in Siberia. The shares of LPP SA made their debut on the Warsaw Stock Exchange on the 16th of May 2001 at 48.40 zł per share. The most recent price per share was 1942 pln. As of September 2010, LPP’s 5%+ shareholders are as follows: Marek Piechocki (10,00%), (Jerzy Lubianiec (10,00%), Grangefont (20,00%), Aviva OFE (9,02%0, Monistor Limited (11,47%0, and others (39,51%). LPP SA uses a few distribution channels for its products. It focuses above all on retail though its own chain stores mainly located in the shopping centres. The company provides wholesale dealers, retail chain stores and advertising agencies with its products and exports them to central and eastern European countries. The RESERVED brand cooperates with top Polish fashion designers, such as Paprocki&Brzozowski and Gosia Baczyńska. n
MMC Studio Design. Ilona Majer and Rafal Michalak, both graduates of Lodz’s Academy, have teamed up to create ultramodern, clean designs making heavy use of silk. Awarded once Designers of the Year, their creations are showcased at fashion shows across Europe and appear frequently in women’s magazines such as Twoj Styl, Viva Moda and Elle, and are worn by top personalities such as former Miss World Aneta Kreglicka.
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Real Estate
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City of Warsaw wins “pyrrhic victory” in arbitration case with ING Real Estate The City of Warsaw has won a landmark arbitration case in Paris two months ago over its 23% stake in Zloty Tarasy shopping mall, which theoretically allows the city to escape from a low-priced sale to ING Real Estate.
Theoretically. Under the terms of the original agreement to develop Zloty Tarasy shopping centre, the City of Warsaw agreed to contribute land in exchange for a 23.15% stake in the development. According to the agreement, ING RE was obliged to buy out the city’s stake upon completion in 2007 of the huge retail and office complex. But the price of the buyout was the main bone of contention. Subsequent changes in the law allowed the City to argue that the original valuation (57 million pln) should not be the appropriate price for the 23 % stake – and the Parisbased ICC International Court of Arbitration ruled in favor of the City. The Court ruled that a “market” price is appropriate, and city officials were quick to declare victory.
Trójmiasto_ City of Gdansk and Polnord start development of Spichrzow Island Polnord and the City of Gdansk have agreed to create a special purpose company – to be owned 51% by Polnord, 49% by the City – to develop the Spichrzow Island in Gdansk. Development plans include a residential and retail complex, amber museum, and public infrastructure. The City is contributing land – at estimated value of 59 million pln – to the project, and Polnord will provide cash of equal amount. The total project is estimated to cost 450 million pln and is planned to be finished by 2014.
Multi Development to develop Hay and Crayfish Market in Gdansk
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A consortium of Multi Development Poland and Multi Corporation has signed a preliminary shareholder agreement with the City of Gdansk
“We won!”, said Tomasz Andryszczyk, a spokesman for the City of Warsaw. In theory, the verdict means that the City may be able to sell its stake back to ING RE for nearly 400 million pln, according to city officials. But the reality appears entirely differently. While the arbitration court ruled that comparable real estate transactions should be used to establish a buy-out value for the City’s stake, establishing a market value of a minority stake in the company – which is burdened with about 400 million euro in debt – will be a delicate matter, and likely to mean substantially lower proceeds to the City of Warsaw than the 400 million pln number they are using. According to two commercial real estate brokers that BizPoland Magazine spoke with (on condition that their comments would be off-the-record), the minority stake of the City – which has no management control and no rights to dividend income before repayment of the debt – will be significantly lower than 400 million pln.
The terms of Unibail-Rodamco’s agreement with ING RE to buy 50% of Zloty Tarasy – first announced in October 2007 - established a price of 190 million euros, meaning that the full enterprise would have a value of 380 million euros. But that is a valuation attributed to a majority position in the company with management control, so the city’s 23 % minority stake would be worth less. So the city’s options are limited. They will likely follow a path of getting a market valuation for the minority stake, and then proceeding towards a formal tender sale. Or they might reconvene talks with ING Real Estate. Whatever the eventual outcome, the theoretical value of 400 million pln is not likely to be a value that n the “market” is willing to pay.
to develop the Hay and Crayfish Market in Described as “complex, demanding, multithe city centre. functional and imagination-driven”, the proIn September the consortium signed a preli- ject will combine retail trade, services, hotel, minary agreement, and now Multi is preparing offices and entertainment. It involves devethe concept for urban and architectural deve- lopment of new buildings and redevelopment lopment, subject to final approval by the city. of existing infrastructure that will improve The project will encompass an area of some the existing and future passageway of two sig5,5 hectares. The combined gross lettable area nificant and crucial interchanges. The Muniof all newly built space will be 100,000 square cipality, together with Polish Railways, will meters, of which 50,000 sm will be retail. Start provide a new commuter rail station to enof construction is planned in 2012. sure access to the new public space that will The competition to develop Hay and Cray- be created on the old market. Development fish Market was announced one year ago. 12 of the space above the railway tracks promidevelopers entered the first stage of the com- ses to be one of the most breathtaking devepetition. Four were shortlisted to go on to the lopments in the project. The Hay and Crayfish second stage. Meanwhile negotiations were market is to become a new metropolitan cenbeing conducted with PKP (Polish Railways) tre of Gdańsk and a direct extension of the about development of the plate above the existing historic main city. tracks and building on the plate. After one year “This project is tailored for Multi”, says RoMulti has been selected for exclusive discus- nald Dasbach, Managing Director for Central sions with the city. Europe. “Multi has always been interested in The investment will be in the very heart the renewal of inner-city space and has an imof historical Gdańsk. The location is in the pressive track-record in these projects”. heart of the city surrounded by the Central “Gdańsk has been our target since Multi train station, main entrance of the historical started in Poland”, says Tomasz Matusiak, Macity centre, the planned new tram and bus naging Director, Multi Development Poland. station and the town hall. It is planned that “It is a place of great potential that deserves the investment will encompass an area of ap- unique public space where history and modern n prox. 5,5 hectares. times are woven together”.
November 2010
Business Profile
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Poland’s king of bananas dreams of green tomatoes With a personal fortune estimated at 500 million pln and ranked by “Wprost” as the 41st richest Pole, a short visit to the office of Artur Toronowski leaves no doubt as to the source of his wealth.
The yellow couch in the waiting room is but a taste of what’s to come. Artificial palm trees stand in the corners of his office, walls are adorned with huge paintings of banana palm trees, and yellow is everywhere. Yellow sculptures of bananas, a yellow candle in the shape of a banana, yellow furniture, yellow blinds and yellow trash bins. Toronowski sits comfortably behind his desk, just in front of a map of the world, with markings of a central American ship’s journey to Antwerp and Gdansk. From there, trucks packed with bananas continue their journey to Citronex’s company head-
quarters in Zgorzelec, which borders the German border in southwestern Poland. Today, six out of ten bananas bought in Poland come via Citronex. The company sells bananas to Tesco, Carrefour, Plus, Biedronka, and Polomarket. Revenues for Citronex will likely exceed 600 million pln in 2010, of which profit may be approximately 40 million pln. Sixty percent ot that profit comes from the sale of bananas. The remainder is income from gas stations, truck wash locations and motels. While the 50-year old Toronowski may not court controversy directly, his colorful personality matches his colorful office. He’s re-
November 2010
cently given up his Ferrari 360 Moreno – replaced by a Mercedes GL worth 1.5 million pln – and has retired some of the more gaudy gold jewelry that was his trademark in the early days of building his business. But opponents accuse him of arrogance, and he still complains about a news article in a local newspaper that Zgorzelec city authorities looked the other way when he parked his Ferrari illegally in a disabled parking zone. He now spends part of his time on his yacht and pursuing his passion for fast motorbikes. While he has plenty of detractors, his supporters praise him for his entrepreneurship, having built up such a profitable firm in a short time that employs thousands of people in his region and sponsors sports clubs and supports various initiatives of the city.
From taxi driver to shopkeeper But before his ascent, Toronowski was an ordinary taxi driver in this town bordering Germany. In 1978, he was 18 years old and a taxi-driver with a Fiat 125. With his earnings from taxi-driving, he opened three ice cream shops and a grocery store. A few years later he moved to West Berlin, and from there, he was sending oranges and bananas back to his grocery stores. “I quickly noticed that bananas were selling better, so I decided to devote my time entirely to importing only bananas”, said Toronowski, who established the brand Citronex in 1988. But the main banana dealers were based in Antwerp, Europe’s largest port where most of Central America’s bananas enter Europe, and Toronowski wanted direct access. In Antwerp in 1993, he met Julian Goelans, owner of a Belgian firm importing bananas, who proceeded to teach Toronowski the “in’s-and-out’s” of the banana business. He explained that the transport ship runs at least two weeks, that bananas chilled at 14 degrees Celsius will not mature and will therefore not spoil during transit. That bananas have seven different levels of maturity - from the raw, green to the sweet, yellow with black spots, and that large customers have different requirements for a mature banana. Because in some stores, the banana may lie for four days, and therefore it should mature slowly over those days; in other stores, trade and volume may be faster, so the bananas must be the proper shade of yellow within one day.
Citronex swims into deep waters, and takes on big sharks After 1997, Toronowski began direct contacts to producers in Ecuador. But trouble began for Toronowski, as trucks loaded with bananas destined for Poland had to wait several days at the German-Polish border, just a few kilometres from the warehouse, and began to spoil. Toronowski, thinking of options and ways to fix the problem, decided to build a loading ramp at the railway crossing in Wegliniec, then leased a locomotive from Deutsche Bahn. Week after week, 50,000 cartons of bananas rolled off the ramp. By 2004 Citronex was the last 100%owned Polish company in the industry. Others had either gone bankrupt or were absorbed by American Chiquita. “We survived because over the years we have consistently rebuffed cooperation with U.S. companies. Other Polish importers signed contracts, which at first appeared lucrative, but required the company to import a larger number of bananas than they could sell”, said Toronowski. Then came a big breakthrough for the company: Poland’s accession to the European Union. When Brussels began to distribute licenses for the importation of bananas from Latin America, Citronex was well-positioned to get a license and then ordered directly from the manufacturers. From 2006, the company’s sales began to grow rapidly. And when Poland joined the EU, he closed the rail offloading ramp at Wegliniec and began to transport the bananas via cargo truck, which numbers have grown from 60 to 250 over the past four years.
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Industry and_ Manufacturing briefs_
FDI inflow in August reaches EUR 582 million but YTD numbers decline Preliminary data published by the National Bank of Poland shows that FDI inflow in August reached EUR 582 million. The overall value of FDI for the first 8 months of the year was EUR 5.9 billion. The inflow in August was higher than July’s EUR 421 million. FDI into Poland during the first 8 months of the year equaled 87% of FDI inflow for the same period of 2009.
Investments in Wałbrzych Special Economic Zone
Industrial production in September rose by 13.2% in comparison to August. The construction-assembly sector gained momentum and production in the sector in September was 13.4% higher than in the same period in 2009 and 11% higher than in August this year, according to data published by the Central Statistical Office (GUS). “Our economic growth has solid foundations. These facts suggest that GDP growth in Q3 rose by no less than 3.5%”, said Małgorzata Starczewska-Krzyszto-
BASF’s newest investments were officially inaugurated on October 7th. The first of the company’s factories will produce polyurethane systems and the second will manufacture chemical products for the construction sector. Both facilities will be situated within the Śrem sub zone of the Wałbrzych Special Economic Zone. The inauguration was attended by over 250 guests. The investment projects are worth PLN40 mln and will generate at least 50 jobs. Both BASF facilities are located on two adjacent plots. One of the facilities has already been producing mortar for the construction industry. The second facility has been designing, manufacturing and distributing polyurethane systems for the construction, automotive, furniture and other industries. The facilities will provide products mainly for the Polish market.
Green tomatoes_
Green tomatoes
Industrial production increases 13%
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szek, PhD and senior economist at the Polish Confederation of Private Employers Lewiatan. Among the companies which have been recording the most significant production growth are producers and exporters of computers, chemical products and electric appliances.
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Full of enthusiasm for business, the head of Citronex had another idea: why buy fuel for his fleet from foreign stations when you can do it on your own? Toronowski began construction of large stations, which could fill ten trucks simultaneously. Soon he added restaurants and truck-washing stations. “In Germany, dirty trucks are punished with mandates. Moreover, this is like a wife: well-groomed makes a good impression. A clean car does not arouse suspicion among the police, and this is another reason this business goes so well”, explains Toronowski. Today Citronex already has five such truck-washing stations, all based in western Poland next to the A2 and A4 motorways. The largest is in Stok, next to the A2 motorway project and about 50 km from the German border crossing in Świecko. At the station there, he employs 150 people in the restaurant and truck-wash. Citronex plans next investments for travelers next to the A4 motorway – this time two hotels.
Toronowski says that the recipe for success is a consistent ten years of building the company’s position, and another ten to maintain its brand. “It’s true, I had a lot of luck, but every day I worked 16 hours a day. Now it’s time to slow down. My life is ebbing away through my fingers, so I try to make up for it. I will work in the month only for two weeks, and the other two I’ll spend sailing on my yacht. I want to live a long time, so I’ll spend the next ten years doing lots of sports and visiting doctors.” He has recently delegated the import and sales of bananas to his son Rafal – and the expedition business is managed by his second son Robert. Toronowski says about himself that he is the “creative director” responsible for developing the company. “Because it is like a drug, it is difficult to give up work completely.” While talking about his latest business idea, he gets visibly excited. Within four years, he plans to finalize a giant greenhouse for tomato farming on 96 hectares. And although he doesn’t plan to sell green tomatoes, he’s clearly keen on the profitability of green
The Śrem sub zone was chosen mainly due to the fact that the zone is close to Poznań and is only 25km from the new bypass and the A2 highway.
Steel processor invests EUR 100 million in new production facility On October 14th Marcegaglia opened its new production facility, also within the Wałbrzych Special Economic Zone, and will initially hire 300 people. The factory and technology located in the facility is worth over EUR100 million, and will be used to manufacture precision pipes made of carbon steel. The pipes will mainly be used in the automotive industry. The planned annual output is estimated to reach 300,000 tons. The Kluczbork-based facility will have its own service centre for metal sheets and tape cutting, as well as a logistics centre for the distribution of the company’s products in northeast Europe. The Kluczbork investment is the company’s second facility in Poland. Marcegaglia is an international industrial group active in the steel processing sector. The company produces annually about 5.3 million tons of steel. Marcegaglia employs 7,000 people worldwide and produces 5,500 km of steel products daily in its 50 factories. Continued on page
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energy. He plans to power the greenhouse with gas from a nearby power station, which will get “clean-energy” credits for not emitting the gas. Such technology is already used by Americans, who have sold a license to Toronowski. The whole investment is estimated to cost 200 million euros, and will employ about 1,000 people. From one square meter he says he will be able to raise 100 kg of tomatoes per year, and that he’ll be able to pay back the full investment within one year. Toronowski argues that his plans for the tomato business are being delayed by the mayor of Bogatynia, which says the land is worth much more than Toronowski is willing to pay. “He is from PiS and has some silly political ideas, blocking the whole project”, said Toronowski. Andrzej Grzmielewicz, Bogatynia’s mayor, explained that the valuation is being carried out by an expert appraiser. “We have announced a tender and Citronex can submit a bid like any other company. We can not lower the value of land just because a person so wishes. I care about this project, but I’m the last to kneel before him. On my knees I n can kneel in church!”
November 2010
Telecoms and IT
www.bizpoland.pl
TP SA sets aside 2.2 billion pln for arbitration loss with Danish firm 3rd quarter losses of 720 million pln, but TP refuses to pay and refuses to talk about compromise Telekomunikacja Polska SA, Poland’s largest telecommunications, said in late October that it swung to a third quarter net loss after booking high provisions for a lost arbitration case over fees with a Danish business partner. And TPSA said it is not trying to talk with telcom firm Danish Polish Telecom Group regarding potential compromise but is rather
figure was far below expectations of a 249.2 million pln loss. TPSA was ordered in September to pay 2.9 billion Danish krone (DKK) ($495 million) to DPTG to settle a long-running dispute over traffic volumes carried via a fiber optical network that was installed in Poland in the early 1990’s. DPTG initiates enforcement proceedings The Danish party has started enforcement proceedings, after the 14 day payment deadline passed without payment, and proceedings will be handled by the Regional Court in Warsaw. The dispute concerns the determination of traffic volumes carried via the NSL fiber
Maciej Witucki, TP SA
Per Wold-Olsen, Danish Polish Telecom Group
trying to contest the Vienna arbitration court decision, according to TPSA’s CEO Maciej Witucki. TPSA is facing payment of some 1.4 billion pln in damages to DPTG following a ruling from a Vienna arbitration court in early September. GN Store Nord A/S, a Danish firm listed on the Copenhagen stock exchange, owns 75% of DPTG. “We are not in talks with them,” Witucki said. “We do not agree with the ruling. We have launched the operation of appealing the decision in Vienna,” he added. TPSA hasn’t paid the damages, despite missing the payment deadline, and will seek to block the verdict in Poland and may appeal it in Austria. TPSA made a 1.06 billion pln additional provision in Q3, which brought the total provisioning on that account to 2.2 billion pln, according to TPSA’s Q3 financial report. Net loss for the quarter ending Sept. 30 was 720 million pln compared with a net profit of 302.6 million pln a year earlier. The
optical telecommunications system in Poland. DPTG is entitled to 14.8% of profits generated by traffic carried on the NSL. TPSA and DPTG concluded the NSL contract on April 17, 1991, regarding the construction and the use of a fiber optical system, the so-called North-South-Link (NSL). The contract provided for the construction and operation of the NSL and a sharing of the profits for a period of 15 years (February 1994 to January 2009) in a ratio of 85.2% to TPSA and 14.8% to DPTG. According to the 1991 contract - of which GN holds an original copy - any dispute and/or difference between the parties which could not be settled in an amicable way should be finally resolved via arbitration. From the beginning of 1994 to 1999 the agreement proceeded in compliance with the agreed contract. In 1999, however, a dispute on how to calculate the net profit from NSL arose, and in 2001 DPTG decided to start arbitration proceedings in accordance with the contract.
November 2010
After more than nine years of arbitration the Arbitration Tribunal in Vienna rendered its decision on September 3, 2010 and awarded DPTG I/S 2.0 billion DKK plus 900 million DKK in interest for the period 1994 to mid-2004 (phase 1). DPTG had claimed 5 billion DKK for phase 1. GN Chairman Per Wold-Olsen said: “The contract signed by TPSA and DPTG in 1991 states that an arbitration tribunal in Vienna would be the body to handle and settle any potential disputes between the parties. In the contract, TPSA and DPTG undertook the express obligation to comply with an arbitral decision. TPSA’s failure to comply with the September 3 decision by the Arbitration Tribunal is a breach of the agreement. And by failing to pay in accordance with the decision rendered by the Arbitration Tribunal on September 3, TPSA is adding further costs to themselves and their shareholders, more specifically around half a million Danish kroner a day in interest. With France Telecom being the majority shareholder in TPSA this now becomes an issue, not only between TPSA and DPTG, but also between France Telecom and DPTG. I have to say that I am troubled with the fact that France Telecom supports the TPSA decision not to pay.”
TP carries on Despite the ruling and provisioning, analysts expect the negative reaction to the figures to be limited as TPSA has solid margins and good cost efficiency, but revenue remains a problem as TPSA faces competitive pressure and a shrinking fixed-line business, BZ WBK analyst Pawel Puchalski said. “The flattening of the revenue trend is the best we can hope for,” he said. Third quarter revenue also missed expectations, falling 3.9% to 3.9 billion pln from 4.06 billion pln a year earlier. Witucki said the company’s full year revenue decline would likely be below 6%, with revenue trends improving in the fourth quarter. TPSA’s mobile customers rose 2.9% year on year to 14.14 million, including a 4.9% rise in higher-paying contractual customers to 6.82 million. The company said its market share by value was 31.3% at the end of September. In its traditional landline business, TPSA saw revenue fall 7.5% on the year, a narrower decline than in the pren vious quarter.
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News
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Industry and_ Manufacturing briefs_ Continued from page
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Hamilton Sundstrand constructs new factory in Rzeszów The new factory will cost more than PLN100 million, and will employ about 300 people, including 70 engineers. The factory’s Engineering Centre will design sub-assembly units and other elements for airplane engines. It will be built within 18 months and will be located on a 1,5ha plot within the Mielec Special Economic Zone, on land owned by parent company United Technologies.
Ciber offers 80 workplaces for IT specialists in Poznań Ciber has opened its Poznań International IT Services Centre which will by the end of the year hire 80 people. The centre will provide technical support over the telephone, and will grow to 200 employees in 2011. It is the company’s first centre located in central Europe. “We decided to invest in Poznań because the city offers access to excellent talent and has attractive labor costs. And our centre demands IT specialists who speak foreign languages”, said Anthony D’Ambrosi, operational director at Ciber. The company runs 14 global IT services centres, and employs 8500 specialists. Among the investor’s clients are the World Bank, Nokia, Boeing, Ford Motor, Bayer and Allianz.
PAIZ investment mission to Japan in October PAIZ hosted its first Polish-Japanese investment forum in Tokyo and attracted over
100 representatives of Japanese companies and business organisations. The aim of the mission was to provide Japanese partners with an update on the latest developments and trends with regards to investment opportunities in the automotive, aviation, green technologies, electronics and R&D sectors in Poland. The Polish delegation included high profile officials including Undersecretary of State at the Ministry of Economy, President of PAIiIZ, Vice-President of the Industrial Development Agency, President of the Lódz Special Economic Zone, President of Academic Incubators of Entrepreneurship, Directors of the Wrocław, Szczecin and Opole Investor Assistance Centres as well as representatives of Takenaka and JP Weber.
Rzeszów University of Technologies will have new laboratories thanks to European funds The Rzeszów University of Technology will modernize 33 laboratories thanks to funds from the EU’s Regional Operational Programme for the region of Podkarpacie. Equipment and software which will be bought will make it possible to conduct research concerning new materials and technologies in the field of modern electronics and the aviation industry - especiallly low-temperature components. “The aim of the project and the idea behind the modern R&D centre is to boost the University’s competitiveness and innovativeness and thus create conditions which would effectively help increase the region’s economic potential as well as accelerate the transfer of technologies”, said professor Marek Orkisz, head of the project at the University. The overall value of the project is 80 million pln.
Coming soon!
EnergiaWiatrowa TopOfficeSpace 2011
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2011
Polish-Korean investment seminar in Seoul PAIZ organized a trade mission to Seoul and investment seminar “Polish-Korean Investment Co-operation Forum” – to promote greater involvement of Korean firms in the Polish economy. The mission was led by Rafał Baniak, Undersecretary of State in the Ministry of Economy. The seminar was organised by the Trade and Investment Promotion Section of the Polish Embassy in South Korea which together with PAIZ financed the venture. Among local partners who actively supported and promoted the event were the Korean Agency for Trade and Investment Promotion KOTRA, Export-Import Bank of Korea (EXIM Bank) and the Korean International Trade Association KITA. Over 100 representatives from 80 Korean companies took part in the seminar, reflecting the growing interest in Poland among Korean firms. After the seminar, participants had the opportunity to take part in a series of bilateral meetings with PAIZ’s partners, including the Pomeranian Special Economic Zone, the Łódź Special Economic Zone, Investor Service Centres from Opole and Szczecin, Academic Business Incubators and the Wrocław Agglomeration Development Agency.
Over 8 million people visited the Poland Pavilion at world expo The EXPO in Shanghai broke a number of records. The Chinese EXPO had the biggest budget and hosted the highest number of visitors. The Shanghai EXPO hosted also a record high number of 150 cultural, economic and political events promoting Poland. Just before the end of the expo in October, the Poland Pavilion broke another record – it registered its 8th million visitor. Xie Wei, an accountant from the Zhejiang province was the 8th million visitor to the Poland Pavilion. Xie got flowers, a special certificate, an album presenting Poland and an Ipad. “I must be dreaming. Thank you very much. I will use the computer to gain a better insight into your country’s culture and history”, added Xie. “It is very symbolic that the 8th million visitor is a very typical representative of the new China - young, energetic and well-educated. It is exactly the kind of Chinese generation that our exposition and message of the Pavilion was directed to”, said the Commissioner General of the Polish Expo Sławomir Majman. The World Exhibition in Shanghai was visited by a record high number of more than 75 million people. Every 10th visitor viewed n the Polish exposition.
November 2010
New Cos in KRS
www.bizpoland.pl Warszawa EMUZYKA sp. z o.o. 03-717 WARSZAWA, ul. KŁOPOTOWSKIEGO 22 Shareholders: ANDRZEJ CIESIELSKI 61 shares; RAFAŁ ŁUKASZ AGNIESZCZAK 59 shares DETTO INVESTMENTS sp. z o.o. 00-803 WARSZAWA, AL. JEROZOLIMSKIE 56C Shareholders: TRINITY SHELF COMPANIES Sp. z o.o 100 shares BENEO INVESTMENTS sp. z o.o. 00-803 WARSZAWA, ul. AL. JEROZOLIMSKIE 56C Shareholders: TRINITY SHELF COMPANIES Sp. z o.o 100 shares BELLA ENTERPRISE sp. z o.o. 00-640 WARSZAWA, ul. MOKOTOWSKA 15A/1B Shareholders: READYMADE ENTERPRISE Sp. z o.o 100 shares BELISE INVESTMENTS sp. z o.o. 00-803 WARSZAWA, ul. AL. JEROZOLIMSKIE 56C Shareholders: TRINITY SHELF COMPANIES Sp. z o.o. 100 shares BANKPRZYSŁUG.PL sp. z o.o. 02-197 WARSZAWA, ul. NA SKRAJU 68 Shareholders: ADAM BOGUMIŁ CHODAK 91 shares ASTERI sp. z o.o. 00-382 WARSZAWA, ul. SOLEC 81 B lok A-51 Shareholders: RAFAŁ JANUSZ KUCHARSKI 30 shares; PAWEŁ HUBERT SADOWSKI 30 shares ANIRA sp. z o.o. 01-592 WARSZAWA, ul. SŁOWACKIEGO 15/19 lok 104 Shareholders: OŁENA PAWŁOWICZ 50 shares 81.WAW.PL sp. z o.o. 02-534 WARSZAWA, ul. FAŁATA 5/9 Shareholders: ANNA MAŁGORZATA PASZKOWSKA 250 shares; RAFAŁ PAWEŁ GRUDZIĄŻ 250 shares GLOBAL SPED sp. z o.o. 01-402 WARSZAWA, ul. CIOŁKA 12/428 Shareholders: TOMASZ BORUSZKOWSKI 14 shares; LESZEK GŁOWACKI 6 shares FORTIRER sp. z o.o. 02-349 WARSZAWA, ul. BAŚNIOWA 3/403 Shareholders: JACEK MIROSŁAW WOSIK 50 shares/2.5 TYS. ZŁ; EMILIA ZAJĄC 40 shares/2; BOŻENA WOSIK 10 shares ZELTA sp. z o.o. 00-163 WARSZAWA, ul. CHAŁUBIŃSKIEGO 8 Shareholders: NOBEL Sp. z o.o 100 shares ZARZĄDZANIE ODPADAMI sp. z o.o. 00-120 WARSZAWA, ul. ZŁOTA 59 Shareholders: ZBIGNIEW JÓZEF PIK 100 shares WMR MANAGEMENT sp. z o.o. 03-228 WARSZAWA, ul. MARYWILSKA 38 Shareholders: MAGDALENA IWONA ROMANOWSKA 70 shares; WOJCIECH KONRAD ROMANOWSKI 30 shares THÉA POLSKA sp. z o.o. 00-789 WARSZAWA, ul. SŁONECZNA 38 Shareholders: LABORATOIRES THEA SOCIETE PAR ACTIONS SIMPLIFIEE 8.000 shares TELEA sp. z o.o. 00-422 WARSZAWA , ul. WILANOWSKA 24 Shareholders: TOMASZ PIOTR WASIELEWSKI 50 shares; GAWIN NIESIOŁOWSKI 50 shares SWISSVAX DETAILING sp. z o.o. 02-495 WARSZAWA, ul. ALEJA BZÓW 2 Shareholders: CLASSIC SHAPE Sp. z o.o 60 shares; FREIBERGER Sp. z o.o 40 shares STARCASH sp. z o.o. 02-386 WARSZAWA, ul. ALTOWA 2 Shareholders: TOMASZ MARCZUK 50 shares; ANDRZEJ ŻURAWSKI 50 shares SPARK ENERGY sp. z o.o. 01-111 WARSZAWA, ul. JANA OLBRACHTA 7/5 Shareholders: ADAM KROPIELNICKI 50 shares; ADAM KRAWCZYK 50 shares
November 2010
S.A.G. sp. z o.o. 02-087 WARSZAWA, ul. ALEJE NIEPODLEGŁOŚCI 225/11 Shareholders: SEBASTIAN PRUSZYŃSKI 20 shares; ANETA EWA PRUSZYŃSKA 40 shares; GRZEGORZ PAWEŁ KOGUT 40 shares RONSON DEVELOPMENT GEMINI sp. z o.o. 02-652 WARSZAWA, ul. MAGAZYNOWA 1 Shareholders: RONSON EUROPE N.V. 100 shares RENEWAL sp. z o.o. 04-643 WARSZAWA , ul. R. PAZIŃSKIEGO 3D/ 5 Shareholders: ARTUR PIOTR OLCZAK 100 shares PROXYAD SA 00-203 WARSZAWA, ul. BONIFRATERSKA 17 Shareholders: PROXY AD Sp. z o.o PROMESSE INVESTMENTS sp. z o.o. 00-803 WARSZAWA, ul. AL. JEROZOLIMSKIE 56C Shareholders: TRINITY SHELF COMPANIES Sp. z o.o 100 shares PROMEDICA INWESTYCJE sp. z o.o. 00-807 WARSZAWA , ul. ALEJE JEROZOLIMSKIE 94 Shareholders: PROMEDICA Sp. Akcyjna 10.000 shares PROJEKTOR sp. z o.o. 01-042 WARSZAWA, ul. OKOPOWA 56/1 Shareholders: JOLANTA MARIA SZADKOWSKA 100 shares PRIME SPEAKERS sp. z o.o. 02-972 WARSZAWA, ul. SARMACKA 13/9 Shareholders: TOMASZ PODOLAK 50 shares; PIOTR WŁADYSŁAW BELKA 50 shares PRIMARIS sp. z o.o. 02-697 WARSZAWA , ul. RZYMOWSKIEGO 53 Shareholders: WOJCIECH JAN CHLEBICKI 250 shares; ALEKSANDER TOMASZ SOLECKI 250 shares PLAGIAT.PL - SZKOŁY ŚREDNIE sp. z o.o. 01-457 WARSZAWA, ul. PRZANOWSKIEGO 32/53 Shareholders: PLAGIAT.PL Sp. z o.o 100 shares PARLO INVESTMENTS sp. z o.o. 00-803 WARSZAWA, ul. AL. JEROZOLIMSKIE 56C Shareholders: TRINITY SHELF COMPANIES Sp. z o.o 100 shares OPTIMUM INWEST III sp. z o.o. 01-029 WARSZAWA, ul. DZIELNA 60 Shareholders: OPTIMUM INWEST Sp. z o.o 1.000 shares MYRETURNTICKET.COM sp. z o.o. 02-548 WARSZAWA, ul. GRAŻYNY 9/11 lok 9 Shareholders: MACIEJ ANDRZEJ KRAJEWSKI 100 shares MINI GYM sp. z o.o. 02-123 WARSZAWA, ul. KOROTYŃSKIEGO 26/73 Shareholders: MAJA BEATA POZORSKA JĘDRYCH 50 shares; TOMASZ JANUSZ POZORSKI 50 shares MERHABA sp. z o.o. 03-131 WARSZAWA, ul. MEHOFFERA 26/11 Shareholders: MARIUSZ MIROSŁAW GĄSOWSKI 5 shares; FATIH BAKIR 5 shares MERHABA sp. z o.o. 03-131 WARSZAWA, ul. MEHOFFERA 26/11 Shareholders: MARIUSZ MIROSŁAW GĄSOWSKI 5 shareÓw; FATIH BAKIR 5 shares MCG SA 02-473 WARSZAWA, ul. POPULARNA 4/6 MASGON sp. z o.o. 00-613 WARSZAWA, ul. CHAŁUBIŃSKIEGO 8 Shareholders: NOBEL Sp. z o.o. 100 shares LOOP MEDIA sp. z o.o. 01-230 WARSZAWA , ul. SKIERNIEWICKA 21/53 Shareholders: ANNA GŁOWACKA 50 shares; ANNA SOWA 50 shares IPO DORADZTWO sp. z o.o. 00-534 WARSZAWA, ul. MOKOTOWSKA 56 Shareholders: 1.P.O. DORADZTWO STRATEGICZNE Sp. z o.o
IMPREZOWNIA sp. z o.o. 01-381 WARSZAWA, ul. POWSTAŃCÓW ŚLĄSKICH 2 E/01 Shareholders: ARTUR KOROL 20 shares; EWA KUCHARSKA 30 shares IMPREZOWNIA sp. z o.o. 01-381 WARSZAWA, ul. POWSTAŃCÓW ŚLĄSKICH 2 E/01 Shareholders: ARTUR KOROL 20 shares; EWA KUCHARSKA 30 shares HOSTING CONSULTING COMPANY sp. z o.o. 02-646 WARSZAWA, ul. JOLIOTCURIE F. 8/4 Shareholders: JACEK BORKOWSKI 40 shares GHK POLSKA sp. z o.o. 00-851 WARSZAWA , ul. WALICÓW 11 Shareholders: GHK HOLDINGS LIMITED 100 shares FLOWER ENTERPRISE sp. z o.o. 00-640 WARSZAWA, ul. MOKOTOWSKA 15A/1B Shareholders: READYMADE ENTERPRISE Sp. z o.o. 100 shares FINANCIAL SOLUTIONS sp. z o.o. 01-402 WARSZAWA, ul. CIOŁKA 12/428 Shareholders: PAWEŁ DOMINIAK 50 shares EVENT GROUP sp. z o.o. 00-071 WARSZAWA, ul. KRAKOWSKIE PRZEDMIEŚCIE 13/268 Shareholders: PAWEŁ ANDRZEJ MODRZEJEWSKI 30 shares; ROBERT TERESZKO 60 shares EURECON sp. z o.o. 02-680 WARSZAWA, ul. WIĄZANA 301 Shareholders: JACEK BERNARD BIELECKI 20 shares; KRZYSZTOF JAN KLASA 20 shares; GRZEGORZ KRZYSZTOF TRATKIEWICZ 20 shares; MATEUSZ PAWEŁ NOWOSIELSKI 20 shares; ARTUR PARUZEL 20 shares EMIR 1 sp. z o.o. 00-660 WARSZAWA, ul. LWOWSKA 19 Shareholders: CHAJEC, DON SIEMION & ŻYTO Sp. komandytowa 100 shares DXN POLAND sp. z o.o. 00-133 WARSZAWA, ul. JANA PAWŁA II 26/1019 Shareholders: ISTVAN BOCZKOS 50 shares; LASZLÓ KÓCSÓ 50 shares DREAM DOM 8 sp. z o.o. 00-580 WARSZAWA, ul. ALEJA JANA CH. SZUCHA 3/ 14 Shareholders: MACIEJ IGNACY LICHY 50 shares DREAM DOM 7 sp. z o.o. 00-580 WARSZAWA, ul. ALEJA JANA CH. SZUCHA 3/14 Shareholders: MACIEJ IGNACY LICHY 50 shares DREAM DOM 6 sp. z o.o. 00-580 WARSZAWA, ul. ALEJA JANA CH. SZUCHA 3/14 Shareholders: MACIEJ IGNACY LICHY 50 shares DORMEO INVESTMENTS sp. z o.o. 00-803 WARSZAWA, ul. AL. JEROZOLIMSKIE 56C Shareholders: TRINITY SHELF COMPANIES Sp. z o.o 100 shares COPPER TECHNOLOGY sp. z o.o. 00-517 WARSZAWA, ul. MARSZAŁKOWSKA 80 Shareholders: BALAZS SERES 91 shares COMMUNICATION sp. z o.o. 00-844 WARSZAWA, ul. GRZYBOWSKA 85c Shareholders: EXPENSA Sp. z o.o 70 shares/3.5 TYS. ZŁ; JANUSZ MARIAN KOZAKOSZCZAK 10 shares; PAWEŁ TOMASZ KUCZYŃSKI 10 shares; ANNA MAGDALENA BŁAŻEJOWSKA 10 shares COFFEE INTERNATIONAL sp. z o.o. 04-634 WARSZAWA, ul. KAJKI 41/43 lok 10 Shareholders: PRZEMYSŁAW STAŃCZUK 50 shares; ANNA STAŃCZUK 50 shares CIMIENTO INVESTMENTS sp. z o.o. 00-803 WARSZAWA, ul. AL. JEROZOLIMSKIE 56C Shareholders: TRINITY SHELF COMPANIES Sp. z o.o 100 shares CENTRUM E-USŁUG sp. z o.o. 01-771 WARSZAWA, ul. BRONIEWSKIEGO 22A/151 Shareholders: KATARZYNA WOLIŃSKA 70 shares, ANNA KATARZYNA WOLSZLEGIER 30 shares
CEBEP INFO sp. z o.o. 03-215 WARSZAWA, ul. JAGIELLOŃSKA 88/35 Shareholders: ADAM GRZEGORZ SKWARA 25 shares; KAROL JAN PYSZ 25 shares CALL2CALL.PL sp. z o.o. 01-100 WARSZAWA, ul. CZŁUCHOWSKA 8/14 Shareholders: MARTA BOOSS 500 shares ALLERGAN sp. z o.o. 00-803 WARSZAWA, ul. ALEJE JEROZOLIMSKIE 56 C Shareholders: ALLERGAN HOLDINGS LIMITED 99 shares AGABEA SUN sp. z o.o. 71-307 SZCZECIN, ul. MICKIEWICZA 71/2 Shareholders: AGATA BEDNAREK 1 share; BEATA AGATA RYBAK 1 share; DARIUSZ STANISŁAW RYBAK 1 share; SYLWESTER STĘPIEŃ 1 share ADEPHARMA sp. z o.o. 02-137 WARSZAWA , ul. RADAROWA 17/20 Shareholders: WIESŁAW JÓZEF SZUSTAK 60 shares; KARSTEN RUSZKOWSKI 60 shares WIK CONSULTING sp. z o.o. 01-114 WARSZAWA, ul. TRAKTORZYSTKI 4A Shareholders: OLIVIER DAL VECCHIO 50 shares; JEANLUC REGIS GRANGE 50 shares TERTIUS sp. z o.o. 00-490 WARSZAWA, ul. WIEJSKA 14/3 Shareholders: ZBIGNIEW JERZY POSŁAJKO 99 shares TASTES sp. z o.o. 61-706 POZNAŃ, ul. LIBELTA 1/4 Shareholders: ALBERT CANADELL RION 45 shares; MIŁOSZ MICHAŁ KRZYWANIA 5 shares NURTE sp. z o.o. 03-352 WARSZAWA, ul. REMBIELIŃSKA 20/91 Shareholders: GRZEGORZ ROBERT MIKANIK 500 shares CYFROWA EDUKACJA sp. z o.o. 00-814 WARSZAWA, ul. MIEDZIANA 3A/18 Shareholders: WYDAWNICTWA SZKOLNE I PEDAGOGICZNE Sp. Akcyjna 150 shares; COMBI DATA POLAND Sp. z o.o 150 shares VENTURE CAPITAL POLAND sp. z o.o. 02-502 WARSZAWA, ul. ŁOWICKA 42 TRANSPARENCIA sp. z o.o. 02-495 WARSZAWA, ul. SKOROSZEWSKA 10/10 Shareholders: GRZEGORZ SKOWRON MOSZKOWICZ 100 shares TERRASOL GROUP sp. z o.o. 00-722 WARSZAWA, ul. PODCHORĄŻYCH 39 A/35 Shareholders: MICHAŁ PATRYK WOJNARSKI 100 shares SCALA sp. z o.o. 02-954 WARSZAWA , ul. KRÓLOWEJ MARYSIEŃKI 1/42 Shareholders: KRZYSZTOF MATWIJÓW 100 shares RETAIL E-SOLUTIONS sp. z o.o. 00-517 WARSZAWA, ul. MARSZAŁKOWSKA 80 Shareholders: GLEDSDALE HOLDING LIMITED 40 shares; ALEKSANDER KAMIL WIŚNIEWSKI 60 shares RENOMA sp. z o.o. 01-822 WARSZAWA, ul. SCHROEGERA 38 Shareholders: KRYSTYNA NOWACKA 15 shares; JACEK MAREK NOWACKI 35 shares; JERZY WOJCIECH PRZYBOROWSKI 35 shares; ELŻBIETA KRYSTYNA PRZYBOROWSKA 15 shares NOVIAN CAPITAL sp. z o.o. 00-695 WARSZAWA, ul. NOWOGRODZKA 50/515 Shareholders: PIOTR MAREK CHMIELEWSKI ITALCO POLAND sp. z o.o. 00-465 WARSZAWA, ul. 29 LISTOPADA 10 Shareholders: LESZEK IRENEUSZ RATAJCZYK 66 shares; KRZYSZTOF STEFAN STRZAŁKOWSKI 30 shares INOVO GROUP sp. z o.o. 02-784 WARSZAWA, ul. DUNIKOWSKIEGO 5/47 Shareholders: Justyna Fronczak 40 shares; Marcin Piotr Fronczak 60 shares
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Trojmiasto STARTER POLSKA sp. z o.o. 80-890 GDAŃSK, ul. HEWELIUSZA 11 Shareholders: ARTUR PYTLASIŃSKI 50 shares; TOMASZ ANDRZEJ BOSZKO 50 shares MK SERVICES sp. z o.o. 81-451 GDYNIA, AL. ZWYCIĘSTWA 96/98 Shareholders: HALINA SZCZECHOWIAK 98 shares KALMATRON EU sp. z o.o. 81-743 SOPOT, ul. 3 MAJA 33/1 B Shareholders: DOBROMIR STANISŁAW KUŁAKOWSKI 10 shares; GRZEGORZ STANISŁAW DŁUGOKĘCKI 10 shares; HENRYK BARSOW 10 shares; ELENA MERZLYAKOVA 35 shares; YURY TEMNIKOV 35 shares JML GROUP sp. z o.o. 80-529 GDAŃSK, ul. SZKLANA HUTA 7 Shareholders: RAFAŁ NASUTA 80 shares/4 TYS. ZŁ; GRZEGORZ KRZYWICKI 10 shares; TOMASZ JAROSŁAW NIEMCZYK 10 shares GRUPA WSPARCIA PROJEKTÓW INNOWACYJNYCH sp. z o.o. 81-824 SOPOT, ul. ARMII KRAJOWEJ 116 Shareholders: JAROSŁAW JAKUB WITKOWSKI 30 shares; HANNA WITKOWSKA 30 shares; PAWEŁ WOŹNIAK 20 shares; PAWEŁ MACIEJ ZIÓŁEK 20 shares FC FARM sp. z o.o. 80-367 GDAŃSK, ul. JAGIELLOŃSKA 34 Shareholders: MARIA MARCINIAK 250 shares BCB BUSINESS PARK sp. z o.o. 80-306 GDAŃSK, ul. POLANKI 112 Shareholders: POLIKARP MACIEJCZYK 5 shares 4DEVELOPMENTS sp. z o.o. 80-866 GDAŃSK, ul. GDYŃSKICH KOSYNIERÓW 3/1 Shareholders: ROGER ANTONI KOSTARCZYK 90 shares/4.5 TYS. ZŁ; OLIWIA EWA KOSTARCZYK 10 shares/500 ZŁ IMBUD sp. z o.o. 80-034 GDAŃSK, ul. NIEBOROWSKA 32 A/16 Shareholders: VENTUS VIS Sp. z o.o 100 shares RADICAL MOTORSPORT POLSKA sp. z o.o. 81-824 SOPOT, ul. ARMII KRAJOWEJ 47/4 Shareholders: LEIF HAKAN PETERSSON 50 shares INDECOR sp. z o.o. 81-503 GDYNIA , ul. PŁOCKA 52 A Shareholders: JAKUB BOGUMIŁ SZYMCZAK 49 shares
Poznań DM PROJEKT sp. z o.o. 61-696 POZNAŃ , ul. SERBSKA 14 D/1 Shareholders: DAMIAN PIOTR DOMAŃSKI 50 shares; MICHAŁ NARKIEWICZ JODKO 50 shares CASSUS sp. z o.o. 61-725 POZNAŃ, ul. SEWERYNA MIELŻYŃSKIEGO 25 A/22 Shareholders: MARIA EWA BRZOZIEWSKA 40 shares; JAROSŁAW
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www.bizpoland.pl KAZIMIERSKI 40 shares; RADOSŁAW KĘDZIORA 40 shares EKO-LIVE PLUS sp. z o.o. 61-758 POZNAŃ, ul. GARBARY 71/105 Shareholders: WOJCIECH KOZŁOWSKI 48 shares DOMINO - ART sp. z o.o. 60-275 POZNAŃ , ul. KOWALEWICKA 6 Shareholders: DOMINIK PAWEŁ MAŁECKI 100 shares VIP BEAUTY sp. z o.o. 60-286 POZNAŃ, ul. SŁONECZNA 4 Shareholders: DANUTA URSZULA BŁOTNA 25 shares; JOANNA LISZKOWSKA 25 shares; ADAM BONK 15 shares SYSTEM POINT sp. z o.o. 60-141 POZNAŃ , ul. PROMIENISTA 83 Shareholders: PAWEŁ JAN WASILEWSKI 33 shares; MARIUSZ RUTKOWSKI 33 shares; MARIUSZ PIOTR KŁOBUCKI 34 shares RECYKPOL sp. z o.o. 60-449 POZNAŃ, ul. WICHROWA WICHROWA 1A III P Shareholders: MIROSŁAW WOLKIEWICZ 430 shares; ADAM PIOTR MARTYNIEC 70 shares PROFI NAILS sp. z o.o. 60-286 POZNAŃ, ul. SŁONECZNA 4 Shareholders: DANUTA URSZULA BŁOTNA 25 shares; JOANNA LISZKOWSKA 50 shares; AGNIESZKA WOJCIECHOWSKA 25 shares PROFI MAKE UP sp. z o.o. 60-286 POZNAŃ, ul. SŁONECZNA Shareholders: DANUTA URSZULA BŁOTNA 25 shares; JOANNA LISZKOWSKA 50 shares; ADAM BONK 15 shares PROFI MAKE UP sp. z o.o. 60-286 POZNAŃ, ul. SŁONECZNA Shareholders: DANUTA URSZULA BŁOTNA 25 shares; JOANNA LISZKOWSKA 50 shares; ADAM BONK 15 shares LUCAS24.PL sp. z o.o. 61-515 POZNAŃ, ul. 28 CZERWCA 1956 175/4 Shareholders: LECHOSŁAW KAZIMIERZ PAWLAK 110 shares; ŁUKASZ JERZY PELOWSKI 70 shares; JACEK MĄDRZAK 20 shares ADSEEK sp. z o.o. 62-623 POZNAŃ, ul. MAZOWIECKA 65 Shareholders: INTERACTIVE SOLUTIONS Sp. z o.o 100 shares ACS sp. z o.o. 60-479 POZNAŃ, ul. STRZESZYŃSKA 73 Shareholders: KAROL ANDRZEJ CYRULIK 100 shares INTERNET MEDIA GROUP sp. z o.o. 60-685 POZNAŃ, ul. OPIEŃSKIEGO 8/25 Shareholders: KAROL PIOTR PERS 50 shares; ARTUR PAWEŁ PAWLAK 50 shares ABANTE sp. z o.o. 61-541 POZNAŃ, ul. PRZEMYSŁOWA 37/1A Shareholders: ROBERT MICHAŁ PODHORECKI 10 shares WIELKOPOLSKA GRUPA ZBOŻOWA sp. z o.o. 60-408 POZNAŃ, ul. PRZELOT 24 Shareholders: TOP FARMS WIELKOPOLSKA Sp. z o.o 33 shares; TOP FARMS GŁUBCZYCE Sp. z o.o 33 shares; TOP FARMS Sp. z o.o 32 shares REVANA sp. z o.o. 60-623 POZNAŃ, ul. MAZOWIECKA 42 Shareholders: DARIUSZ TADEUSZ SZYMAŃSKI 49 shares LECH - SYSTEM sp. z o.o. 60-853 POZNAŃ, ul. POZNAŃSKA Shareholders: LESZEK ŻOLC 100 shares
Szczecin
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ZAGOZDA sp. z o.o. 71-215 SZCZECIN , ul. KS. ROBAKA 11 Shareholders: MACIEJ ZAGOZDA 100 shares TECHNIK INVEST sp. z o.o. 70-804 SZCZECIN, ul. LEKARSKA 12/1 Shareholders: IWONA HOROSZ 76 shares; MAREK ZENON HOROSZ 24 UDZ shares IAŁY STARKA sp. z o.o. 70-440 SZCZECIN, ul. KS. BOGUSŁAWA X 6/3
Shareholders: CENTRALNE PIWNICE WIN IMPORTOWANYCH Sp. z o.o BRIKE - POLSKA sp. z o.o. 70-644 SZCZECIN, ul. CELNA 1/25 Shareholders: ROBERT ARKADIUSZ MAJEWSKI 100 shares
Wroclaw BD-3 sp. z o.o. 50-071 WROCŁAW, ul. PL. WOLNOŚCI 11 IV PIĘTRO Shareholders: ANNA KATARZYNA SZLANTA 25 shares; MAREK GRZEGORZEWICZ 25 shares DONEVA sp. z o.o. 50-077 WROCŁAW, ul. KAZIMIERZA WIELKIEGO 29A Shareholders: GRZEGORZ ADAM KICZMACHOWSKI 10 shares; TOMASZ FRANCISZEK FRĄTCZAK 5 shares; SZYMON GRZEGORZ PURA 5 shares FABRYKA ZDROWIA sp. z o.o. 50-203 WROCŁAW, ul. ROMANA DMOWSKIEGO 7 Shareholders: ŁUKASZ BARTŁOMIEJ BORZYŃSKI 50 shares; KATARZYNA IWONA SUDOŁ 25 shares; PIOTR PAWEŁ WAWRZYNÓW 25 shares AP LTD sp. z o.o. 51-317 WROCŁAW, ul. BIERUTOWSKA 57/59 B.1A lok 045 Shareholders: ANNA AGNIESZKA PIKURA 25 shares; JAN MARIA BORKOWSKI 25 shares MANDE sp. z o.o. 51-649 WROCŁAW, ul. BACCIARELLEGO 41/1 Shareholders: MAŁGORZATA ANNA WALESIAK 50 shares; IRENEUSZ JÓZEF WALESIAK 50 shares HEALTH TOURISM.PL sp. z o.o. 50-520 WROCŁAW, ul. GAJOWA 55/5 Shareholders: TOMASZ DĄBSKI 100 shares/ ASTORIA CAPITAL SA 50-109 WROCŁAW, ul. KIEŁBAŚNICZA 28 Shareholders: PRIVILEGE CAPITAL MANAGEMENT Sp. Akcyjna
Katowice BMZ POLAND sp. z o.o. 44-100 GLIWICE, ul. ZWYCIĘSTWA 10 Shareholders: SVEN BAUER 10 shares AQUAWATT sp. z o.o. 40-040 KATOWICE, ul. LOMPY 14 Shareholders: MIROSŁAW ADAM GLUCH 500 shares; KRYSTIAN STANISŁAW GRABKA 500 shares AB-LINE sp. z o.o. 44-100 GLIWICE, ul. ŚW. MAŁGORZATY 4/3 Shareholders: ANNA BEDNARZ 48 shares TIM KOMPLETACJA I REALIZACJA DOSTAW sp. z o.o. 40-384 KATOWICE, ul. KS. BEDNORZA 2 A/6 Shareholders: MAŁGORZATA KRYSTYNA POPCZYK 25 shares; MATEUSZ TOMASZ POPCZYK 25 shares P.P.H.U. MACIEJ GROT sp. z o.o. 41-200 SOSNOWIEC, ul. NAFTOWA 17 Shareholders: MACIEJ GROT 50 shares WAKASA sp. z o.o. 40-842 KATOWICE, ul. PIETRUSIŃSKIEGO 12C Shareholders: ADAM KANTOROWICZ 34 shares; ANDRZEJ KRZYSZTOF SZĘDZIELARZ 34 shares; ANDRZEJ STEFAN WOŹNICA 34 UDZ shares IAŁY ROTECTION LEX OCHRONA I POMOC PRAWNA sp. z o.o. 40-026 KATOWICE, ul. WOJEWÓDZKA 20/5 Shareholders: ZDZISŁAW BYRSKI 10 shares; MARIA BYRSKA 10 shares; PIOTR BYRSKI 60 shares; TERESA FIJOŁ 20 shares KANCELARIA REGULOWANIA STANU PRAWNEGO NIERUCHOMOŚCI sp. z o.o. 40-085 KATOWICE, ul. MICKIEWICZA Shareholders: MARCIN GUT 45 shares; PRZEMYSŁAW STEFAN FICEK 40 shares; DARIUSZ PAWEŁ SOLARZ 15 shares
Łódż ASTON CONSULTING sp. z o.o. 90-560 ŁÓDŹ, ul. KAROLEWSKA 1 Shareholders: JACEK WOJCIECH GRABOWSKI 23 shares; JERZY CHAJ-
DAS 10 shares; TEMPLE LIBRA GRUPA FINANSOWA Sp. z o.o 67 shares GALMAG sp. z o.o. 93-590 ŁÓDŹ, ul. AL. POLITECHNIKI 22/24 Shareholders: IWONA ANETA GALIŃSKA 50 shares; MAGDALENA ALEKSANDRA KĘPIŃSKA 50 shares SUPPORTMED sp. z o.o. 90-646 ŁÓDŹ, ul. 6 SIERPNIA 74 Shareholders: MARIOLA ŚWIDERSKA 1 000 shares VARD sp. z o.o. 91-704 ŁÓDŹ , ul. PRZEMYSŁOWA 18 B/67 Shareholders: MICHAŁ PIOTR MAJCHRZAK 10 shares SIS-MED sp. z o.o. 93-613 ŁÓDŹ, ul. KOLUMNY 226/1 Shareholders: ANDRZEJ TADEUSZ KWAŚNIEWSKI 24 shares; AGNIESZKA JOANNA KWAŚNIEWSKA ANDRZEJEWSKA 32 shares; JUSTYNA MAGDALENA MOKROS 24 shares
Krakow ECOMMERCE GROUP sp. z o.o. 31-150 KRAKÓW, ul. ŚWIĘTEGO FILIPA 23/3 Shareholders: BARTŁOMIEJ DUNAJ 50 shares; DAWID PIOTR PAŁKA 50 shares CONVENIO sp. z o.o. 30-604 KRAKÓW, ul. WŁODARSKA 12 Shareholders: BOGUSŁAW STANISŁAW DANEL 25 shares; ARTUR IRENEUSZ MŁOTEK 25 shares; ALEKSANDER SŁAWOMIR SIUDA 25 shares; TOMASZ ZDZISŁAW KRĘCINA 25 shares BG TRADING sp. z o.o. 31-153 KRAKÓW, ul. SZLAK 77/134 Shareholders: JURAJ GERBERI 100 shares ANRA sp. z o.o. 30-693 KRAKÓW, ul. GWARNA 19 A Shareholders: ANNA KAROLINA BASIŃSKA 185 shares; RAFAŁ FELIKS 185 shares WBMG EKO sp. z o.o. 30-663 KRAKÓW, ul. WIELICKA 250 Shareholders: WŁODZISŁAW STANISŁAW ĆWIĄKALSKI 340 shares; BOHDAN RYSZARD HABICH 660 shares INTERTERM sp. z o.o. 30-651 KRAKÓW, ul. ŁABĘDZIA 9 Shareholders: WOJCIECH MICHAŁ MAŁOTA 250 shares; ELŻBIETA KATARZYNA SŁAPA 250 shares BEFARM sp. z o.o. 31-501 KRAKÓW, ul. KOPERNIKA 32 Shareholders: IWONA TERESA CZERWIŃSKA 25 shares; KRZYSZTOF JAN KONIK 25 shares/2.5 TYS. ZŁ ACTIVEBRAIN sp. z o.o. 30-389 KRAKÓW, ul. MIECZYKOWA 6/1 Shareholders: PAULINA MARIA REUTER SZCZYPCZYK 50 shares; KONRAD KRZYSZTOF SZCZYPCZYK 50 shares DOM.PL sp. z o.o. 30-133 KRAKÓW, ul. LEA 212/1 Shareholders: JERZY HENRYK MALEC 17 shares; MACIEJ JÓZEF BRZEZIŃSKI 17 shares; WACŁAW MARIAN DZIURZYŃSKI 17 shares UNIVERSAL BROKER sp. z o.o. 31-752 KRAKÓW, ul. WAŃKOWICZA 198/2 Shareholders: KRZYSZTOF ROBERT KICA 95 shares TRAINING & CONSULTING sp. z o.o. 30-348 KRAKÓW , ul. BOBRZYŃSKIEGO 27/28 Shareholders: MAREK WAREJKO 99 shares SYSTEMY WSPOMAGANIA NAUCZANIA sp. z o.o. 30-058 KRAKÓW, ul. J. LEA 116 Shareholders: MACIEJ MAREK GÓRALSKI 10 shares PLAN NA WEEKEND sp. z o.o. 31-315 KRAKÓW, ul. RADZIKOWSKIEGO 100A/97 Shareholders: ARTUR TOMASZ FRANKIEWICZ 50 shares; JERZY BOGUSŁAW MARKIEWICZ 50 shares INSITUPOL sp. z o.o. 30-147 KRAKÓW, ul. NA BŁONIE 32 Shareholders: BINŻ Sp. Akcyjna 40 shares; PIOTR DMOWSKI 60 shares; MIROSŁAW ZYGMUNT MARSZAŁ 40 shares; WŁODZIMIERZ KLUSKA 30 shares; KRZYSZTOF JÓZEF CZERNIK 30 shares
November 2010
Events
www.bizpoland.pl Business Calendar_ November 4-6 November Polish InvestForum Roadshow Polska, Gdansk www.polishinvestforum.pl
5-7 November AutoShow Poland Motoroni, Warsaw Expo XXI www.expoxxi.pl
9 November Belgian-Polish Forum on Innovation in Water Treatment Belgian Business Chamber; Embassy of Kingdom of Belgium in Poland, 34 Senatorska Street, Warsaw belgium.pl
18 November
29-30 November
Business of Security conference British-Poland Chamber of Commerce; Warsaw, Sheraton Hotel www.bpcc.org.pl
Polish-Arab Investment Forum TopConsultingConferences; Warsaw, Polonia Palace
18 November
Warsaw-CEE Financial Hub conference Warsaw Voice, International Herald Tribune, Warsaw Stock Exchange; Warsaw Stock Exchange www.ceefinancialhub.eu
Krakow Office Market Jones Lang Lasalle and BPCC; Krakow, Park Inn www.bpcc.org.pl
18 November American Chamber of Commerce Business Mixer AmCham; Warsaw, Bristol Hotel www.amcham.com.pl
19 November Nobel Dinner Scandinavian-Polish Chamber of Commerce Warsaw www.spcc.pl
9 November
19-20 November
Netherlands Polish Chamber of Commerce – business drinks Warsaw, Hilton Hotel www.nlchamber.com.pl
Memento - International Funeral Expo Warsaw Expo XXI www.expoxxi.pl
9-20 November Belgian Days 2010, with Gala on 20 November Belgian Business Chamber, Warsaw belgium.pl
“Last Chance for EU funding. Not a moment to lose” – seminar British-Poland Chamber of Commerce; Wroclaw, Radisson Blu www.bpcc.org.pl
11 November
23 November
Public Holiday in Poland – Independence Day
Dutch-Polish Trade Award Netherlands Polish Chamber of Commerce; Warsaw www.nlchamber.com.pl
12-14 November BoatShow Poznan International Fairgrounds; Poznan Fairgrounds www.mtp.pl
23-26 November INVESTFIELD – Real estate investment forum Poznan International Fairgrounds www.mtp.pl
23-26 November Poleko Environmental Protection Expo and Cities, Regions and Gmina Expo Poznan International Fairgrounds www.mtp.pl Investment potential of the Warsaw Region SGH student organization; Warsaw, SGH www.sgh.waw.pl/skniin
MeetingsPoland – Expo and Forum Meetings Management; Warsaw Expo XXI www.expoxxi.pl
November 2010
1 December Cigar Club Warsaw, Porto Praga
7 December
24 November
17-18 November
December:
Scandinavia-Polish Chamber - Christmas party Scandinavian-Polish Chamber of Commerce Warsaw www.spcc.pl
13-14 November
MAPIC Retail Expo and Retail Breakfast at Hotel Martinez Cannes, France www.mapic.net
Wind Energy Forum, 12th annual Polish Wind Energy Association; Warsaw, Marriott Hotel www.psew.pl
3 December
MOB-Expo (Furniture and Interiors) EuroTargi; Warsaw Expo XXI www.expoxxi.pl
17-19 November
30 November
23 November
13-14 November
Mazowieckie Targi Mieszkan (Housing expo) Nowe Adres Warsaw Expo XXI www.expoxxi.pl
29-30 November
24 November British-Polish Chamber of Commerce Business Mixer BPCC; members only www.bpcc.org.pl
Netherlands Polish Chamber of Commerce – business drinks Warsaw, Hilton Hotel www.nlchamber.com.pl
8 December Eurobuild Awards Gala (and Construction and Property conference) Eurobuild; Warsaw, Hotel Hilton
9 December International Christmas evening AHK Polska (German-Poland Chamber of Commerce); Wroclaw www.ihk.pl
10 December Retail Marketing Forum
15 December Scandinavia-Polish Chamber – Christmas party Scandinavian-Polish Chamber of Commerce; Poznan www.spcc.pl
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