Power industry
ZE PAK power plant reports big losses
Privately held Zespół Elektrowni PAK power plant, part of Elektrim power and telecoms group, reported fiscal 2004 consolidated loss of more than 95 million zloty after writing off its investment in EC Konin heat and power generating plant. ZE PAK, one of Poland?s biggest power plants, took a 123 million zloty charge after its auditor told the company to restate the value of Konin investment. Separately, ZE PAK trade unions say the plant has plans to fire as many as 240 workers at...