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On Their Own: Homegrown Turnarounds

                                                          NET
COMPANY/COUNTRY                               SALES*    PROFIT
INDUSTRY                         EMPLOYEES   MILLIONS  MILLIONS

**AGROS/Poland                            4,500     $394.3       $19.1
Trading, food processing                           +  25%       +  22%
CEO: Zofia Gaber

**DANUBIUS HOTELS & SPAS/Hungary          2,100     $56.7        $11.7
Hotel management                                   +  38%        + 24%
CEO: Sandor Betegh

**GRABOPLAST/Hungary                      2,705     $81.8        $8.9
Interior textiles                                  +  54%      + 167%
CEO: Peter Jancso

**POLFA KUTNO/Poland                      1,350     $54.3        $5.2
Drug manufacturing                                  + 16%       + 49%
CEO: Wiktor Tomusiak

**PWN PUBLISHING/Poland                     500       $40          $9.6
Publishing                                          + 49%        + 123%
CEO: Grzegorz Boguta

**RABA/Hungary                            6,200     $153.9        $5.6
Engine, truck manufacturing                          + 17%      + 51.3%
CEO: Barnabas Zalan

**RICHTER GEDEON/Hungary                  4,436     $204         $62.8
Pharmaceuticals                                    + 34%         + 43%
CEO: Erik Bogsch

**STOMIL SANOK/Poland                     2,200     $51.5        $4.8
Rubber parts                                         + 9%        + 86%
CEO: Marek Lecki

**WROZAMET/Poland                          1640      $46.4        $1.9
Oven manufacturing                                   + 53%     + 5,885%
CEO: Ryszard Plichta

**ZPS ZLIN/Czech Republic                 2,030     $194.3       $7.67
Precision engineering                                + 40%      + 158%
CEO: Radomir Zbozinek


COMPANY/COUNTRY
INDUSTRY                        MAJOR SHAREHOLDERS

**AGROS/Poland                        Foreign investors, 50%;
Trading, food processing              Management, 37%
CEO: Zofia Gaber

**DANUBIUS HOTELS & SPAS/Hungary      Interag, 34.5%
Hotel management
CEO: Sandor Betegh

**GRABOPLAST/Hungary                  Menedzser Invest, 17%
Interior textiles
CEO: Peter Jancso

**POLFA KUTNO/Poland                  Enterprise Investors, 49%;
Drug manufacturing                    Pioneer First Enterprise Fund,
CEO: Wiktor Tomusiak                  10%; Scudder, 10%; State
                                      Treasury, 10%
                                      
**PWN PUBLISHING/Poland               Luxembourg Cambridge
Publishing                            Holding Group, 65%;
CEO: Grzegorz Boguta                  State Treasury, 1.8%;
                                      Employees, 33.2%
**RABA/Hungary                        State and local
Engine, truck manufacturing           municipalities, 100%
CEO: Barnabas Zalan

**RICHTER GEDEON/Hungary              State Privatization & Holding
Pharmaceuticals                       Co., 38.5%; Foreign institu-
CEO: Erik Bogsch                      tional investors, 46.9%

**STOMIL SANOK/Poland                 Enterprise Investors,
Rubber parts                          66.5%
CEO: Marek Lecki

**WROZAMET/Poland                     National investment funds,
Oven manufacturing                    69.2%; State Treasury,
CEO: Ryszard Plichta                  19.2%

**ZPS ZLIN/Czech Republic             Domestic funds, 74%;
Precision engineering                 employees, 4%; state, 2%
CEO: Radomir Zbozinek


COMPANY/COUNTRY
INDUSTRY                              STRATEGY

**AGROS/Poland                        Expand into manufacturing
Trading, food processing              from foreign trade; focus on
CEO: Zofia Gaber                      high-margin food processing

**DANUBIUS HOTELS & SPAS/Hungary      Market to spa tourists from
Hotel management                      Western Europe; modernize
CEO: Sandor Betegh                    natural thermal sites

**GRABOPLAST/Hungary                  Target fast-growing
Interior textiles                     home-renovation market
CEO: Peter Jancso                     throughout region

**POLFA KUTNO/Poland                  Spin off nondrug businesses;
Drug manufacturing                    expand into Ukraine
CEO: Wiktor Tomusiak

**PWN PUBLISHING/Poland               Develop electronic
Publishing                            publishing; expand into
CEO: Grzegorz Boguta                  legal books and new
                                      locations
**RABA/Hungary                        Joint manufacturing
Engine, truck manufacturing           deals; will be privatized
CEO: Barnabas Zalan                   by yearend

**RICHTER GEDEON/Hungary              Reestablish markets in
Pharmaceuticals                       the former Soviet Union
CEO: Erik Bogsch

**STOMIL SANOK/Poland                 Close down noncore busi-
Rubber parts                          nesses; introduce quality-
CEO: Marek Lecki                      management techniques

**WROZAMET/Poland                     Market research led to suc-
Oven manufacturing                    cessful positioning of new
CEO: Ryszard Plichta                  Mastercook brand; now
                                      expanding exports
**ZPS ZLIN/Czech Republic             Expand in U.S. using
Precision engineering                 Japanese knowhow
CEO: Radomir Zbozinek

* Current market exchange rates

** Publicly traded

DATA: BUSINESS WEEK


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Updated June 23, 1997 by bwwebmaster
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