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General

SIEMENS TO ACQUIRE ZWUT AND ELWRO

Friday 24 September 1993 | 00:00 CET | News
ZWUT (Warsaw, Poland), telecommunications equipment manufacturer, and Elwro (Wroclaw, Poland), electronics company, are being acquired by Siemens for USDlr38.5 mil. Siemens has also committed itself to investing USDlr57 mil in the two companies over a six-year period. The deal will give Siemens access to the rapidly expanding telecoms market in Poland. AT&T (US) is already present on the Polish market following its USDlr28 mil acquisition of Telfa (Bydgoszcz, Poland) in 1992. AT&T will invest USDlr45 mil in the company. Acatel (Spain) has spent USDlr37.3 mil in the acquisition of Teletra (Poznan, Poland) and PZT (Warsaw, Poland) and has committed itself to USDlr60 mil of investment. Ericsson has been chosen as a possible supplier of mobile telecoms equipment for the Polish armed forces. TP SA (Poland), state-owned telecoms company, plans to invest around Zloty10 tril in 1993.

Categories: General
Companies: Magnet Networks / Sogeti
Countries: Poland
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