Poland is limiting access to its market to firms that invest there, and Siemens AG has paid $38.5m all told for 80% of two well-known but loss-making Polish firms. It gets the ZWUT telephone exchange builder in Warsaw and the Elwro electronics and computer manufacturer in Wroclaw. Much of the cash paid off $30m debt. Siemens pledged $57m investment over the next six years, and to increase total capitalisation by $35.3m over two years. Employees of the firms will be able to buy out the other 20% at a discount. Siemens also agreed to maintain ZWUT’s 2,200 workforce and shed no more than 25% of Elwro’s 860 employees.
