THE LIST OF MAJOR FOREIGN INVESTORS IN POLAND
December 2004
Warsaw 2005
1 2 The List of Major Foreign Investors in Poland December 2004
The largest inflow of foreign capital to Poland since the year 2000 Ahead of the regional competitors Record high share of greenfield investments Almost 15,000 jobs created
1. Foreign in vestments in the world
According to preliminary data of UNCTAD, value of Among the CEE countries, Russia enjoyed most of global flows of foreign direct investments is esti mated at the interest of foreign in vestors. According to the the level of USD 612 billion (Chart 1). The insti tution es ti mations of UNCTAD, the country attracted for- announced that last year entre pre neurs were increasingly eign in vestments worth USD 10 billion. Value of interested in under taking investment activities abroad. FDI in flow to Po land was estimated at the level of USD 5.2 billion, which ranks the country on the UNCTAD also stressed that the trend re lated to the second position among 19 CEE states. For detailed in flow of FDI to the CEE region is subject to large information please see Chart 3. fluc tuations. After a drop recorded in 2003 when the infl ow to the CEE amounted to USD 27 billion, the fig- Chart 3. The inflow of foreign capital to the CEE ure in creased to USD 36.5 billion in 2004. In creasing coun tries in 2004 (preliminary data) interest of foreign investors with the CEE coun tries is mainly the result of EU ex pansion. Annual FDI flows in the re gion are pre sented in Chart 2.
Chart 1. FDI flows in the world over 1992–2004 (USD in billions)
Source: UNCTAD
2. Inflow of foreign in vestments to Po land in 2004
Source: UNCTAD Similarly to previous years at the beginning of 2005, Business Intelligence Department of PAIiIZ carried out Chart 2. FDI inflow to CEE countries between the research concerning the inflow of foreign capital to 1992–2004 (USD in billions) Poland. The methodology of the research was described in details in the annex to the following report. In 2004 value of foreign capital inflow to Poland amounted to USD 7.86 billion. This is the high- est value since the year 2000, when the country re ceived a record high value of FDI inflow to the country. In comparison to 2003 the value of for- eign direct in vestments in Poland increased by Source: UNCTAD USD 1.44 billion in 2004.
3 Chart 4. The inflow of foreign capital to Poland Chart 6. Percentage share of particular forms of in- be tween the years 1993–2004 vestments in the inflow of FDI to Po land (USD in millions) in 2004 (according to PAIiIZ)
Source: PAIiIZ Source: PAIiIZ Accumulated value of foreign investments ex ceeding USD 1 million in Poland on 31st De cem ber 2004 for 17% (22% in 2003 and 36% in 2002). According amounted to USD 80.65 billion. The value of capi- to the latest in for mation M&As constituted 25% of tal invested by en tities not included in the research the total FDI inflow in 2004. (with the share of for eign capital below USD 1 mil- lion) was estimated at USD 3.83 billion and thus the In 2004 foreign investors created in total 14,800 new accu mu lated value of for eign in vestments in Poland jobs directly, which is 4,800 more than in 2003. The amounted to USD 84.45 billion. in vestors also declared they would create roughly 13,000 new jobs in 2005. Chart 5. The accumulated value of for eign capi tal in Poland between the years 1993–2004 (USD in billions) 3. Foreign investors in Poland according to the origin of their capital
In 2004 majority of foreign capital was invested by French investors who allo cated USD 1.57 billion in Poland, which constituted roughly 20% of the total FDI inflow to Po land. They were followed by Ameri- can enterprises, which in vested USD 1.43 billion in 2004 (18% of the total FDI in flow). The third larg- Source: PAIiIZ est group of foreign investors constituted compa- nies described, as in ter na tional cor por tations. This Analysis of the structure of FDI inflow to Po land is the effect of on going glo bal ization pro cesses and in 2004 confirms earlier ob ser vations that there is the resulting free flow of capital. Due to this foreign an in creasing interest in greenfield in vestments. In in vestment have tran sna tional fea tures and character 2002, this kind of investments constituted 37% of and thus in many cases it is impossible to point at all in vestments, while in 2003 the figure in creased one coun try, from which the capital origi nated. to 51%. According to the latest data the share of greenfield in vestments stands at 58% of total FDI Due to this many entrepreneurs described their share- inflow in 2004. This con cerns both en tre pre neurs who holders, as international cor po rations. Value of in- commenced business activity in Poland last year, as vestments of such corporations amounted to USD well as those who re in vested their profits posted in 1.3 billion, which constituted 17% of the total FDI pre vious years in the form of greenfield in vestments. in flow to Poland. This marks a 7 per centage points increase in com- Value of investment outlays of investors registered pari son to pre vious year. in the “old” EU countries con sti tuted 70% of the re- Privatization and M&As also have a significant share searched inflow of FDI to Poland. Apart from France, in the structure of foreign direct in vestments inflow. most of the capital was invested by German cor po- Over the last three years the share of priva ti zation has rations (USD 1.17 billion), Dutch (USD 987.1 mil- been gradually decreasing and last year it accounted lion) and Swedish (USD 437.5 million). 4 In 2004 PAIiIZ recorded an increasing interest of The capital is also pouring into metals and metal Asian investors in the Polish market. En tre pre neurs prod ucts, as well as ma chin ery and apparatus sectors from the Republic of Korea invested USD 202 mil- (mainly house hold appliances). In 2004 first of them lion, while Japa nese investors – USD 108 million. re corded in vestments of USD 468.5 million, which The inflow of for eign direct investments to Poland con sti tuted 14% share in the total inflow. Inflow of according to the country of registration of the in- foreign capital to the sector of household appliances vestor in 2004 (millions of USD) is presented in was es ti mated at the level of USD 450.6 million, Table 2. In terms of accu mu lated values, French which con sti tuted 6% of the total FDI in flow in 2004 com pa nies remain the largest group of foreign in- and 14% of the inflow to the manu fac turing sector. vestors in Poland (20% of all foreign in vestments The capital is mostly originating from re-invested carried out in the country). The second most im- capital. portant group are Dutch investors (14%). They are followed by Ameri can and German in vestors The second most attractive sector for foreign in- (13% each). Accu mu lated value of foreign direct vestors is widely understood financial intermedia- in vestments in Poland with regard to the country tion. In 2004 in vestors allocated USD 2.1 billion of registration of the investor (December 31, 2004) in this sector, which con sti tuted 27% of the FDI is shown in Table 3. inflow to Poland.
Chart 7. Percentage share of coun tries in the stock Foreign direct investments were also flowing to the of FDI in Poland real estate sector and the value of investments in (as of De cem ber 31, 2004) this sector is estimated at the level of USD 865.5 million, which marks an increase of 10 percentage points in comparison to a year before. The inflow of foreign investment to Poland according to the sec- tors of Polish Classification of Activities (PKD) in the year 2004 is presented in Table 4.
In terms of accumulated values of foreign direct in vestments with regard to the sector structure, it is similar to the structure observed in previous years. 4. Foreign investments with regard to the sectors of Manu fac turing and financial intermediation sectors the economy are still dominating and in vestors have invested in them USD 32.2 billion (40%) and USD 18.8 billion Sector structure of foreign direct investments in 2004 (23%) re spec tively. Other sectors with significant confirms that still ma jority of investments is flowing importance to foreign investors include trade and into the manufacturing sectors of the Polish economy. repairs (12%) and trans port (10%). The accumu- In 2004 inflow to this sector amounted to USD 3.25 lated value of foreign direct investments in Po land billion, which constituted 41% of total FDI inflow according to Polish Business Classi fi cation (PKD) to the country. (De cem ber 31, 2004) is shown in Table 5. Special stress should put on the automotive sector, which received most of the in vestments – USD 703 million (9% of all investments carried out in 2004 5. Foreign investors in Poland and 22% of total investments in the manufacturing sector). On December. 31 2004 there were 1,101 com- panies from 36 countries on the “List of Major Entrepreneurs from the chemical and phar ma ceu- Foreign Investors in Poland” prepared by PAIiIZ tical sectors are continuing their in vestments in (com pa nies, which in vested at least USD 1 million Po land and last year they allocated USD 486 mil- in Poland). Over the last few years the number lion in the coun try. This constituted 7% of the of entities with the share of foreign capital in the total inflow of for eign capital to Poland in 2004 List was in creasing dy namically. In 1993 there and 15% of capital inflow to the manu fac turing were 193 companies in the first List published sector. by PAIiIZ.
5 Table 1. The largest foreign direct investment in Poland in 2004
Inflow in 2004 Country of No Investor Country of origin Activity (USD in millions) registration 1. Apollo Rida 800 USA USA Real estate 2. France Telecom 450 France France Telecommunications 3. LNM Holding N.V. 390 The Netherlands India Manufacture of metals 4. BEG S.A. 356 France France Construction 5. Vattenfall AB 305 Sweden Sweden Electricity, gas and water supply 6. Toyota 220 Belgium Japan Automotive 7. IVAX Corporation 210 USA USA Manufacture of pharmaceuticals 8. Volkswagen AG 195 Germany Germany Automotive 9. KBC Bank N.V. 192 Belgium Belgium Financial intermediation Manufacture of electrical 10. LG Electronics Inc 178 Republic of Korea Republic of Korea machinery Source: PAIiIZ
Table 2. The inflow of foreign direct investment to Po land according to the country of reg is tration of the investor in 2004 (USD in millions) Percentage Share No Country of registration Value in Total FDI 1 France 1,575.7 20.1 2 USA 1,428.1 18.2 3 Multinationals 1,305.0 16.6 4 Germany 1,175.1 15.0 5 The Netherlands 981.7 12.5 6 Sweden 437.5 5.6 7 Belgium 413.8 5.3 8 Italy 224.5 2.9 9 United Kingdom 204.1 2.6 10 Republic of Korea 202.0 2.6 11 Austria 179.9 2.3 12 Finland 122.1 1.6 13 Japan 108.4 1.4 14 Luxembourg 104.5 1.3 15 Switzerland 57.9 0.7 16 Spain 38.3 0.5 17 Denmark 33.2 0.4 18 Czech Republic 13.7 0.2 19 Croatia 12.6 0.2 20 Portugal 10.0 0.1 21 Slovenia 8.9 0.1 22 Monaco 6.8 0.1 23 Ireland 5.2 0.1 24 Cyprus 4.4 0.1 25 Australia 1.7 0 26 Greece 1.5 0 27 Liechtenstein 0.6 0 28 Norway 0.5 0 29 Russia1 -800.0 -10.2 TOTAL 7,857.7 100 Source: PAIiIZ
1 The outflow of capital in 2004 resulted from the remittance of liabilities by entities with capital cross-ownership.
6 Table 3. Cumulative value of foreign investment in Poland by country in which investor is incorporated (De cem ber 31, 2004)
No. Country of incorporation Number of investors Capital invested (USD in millions)
1 France 101 16,026.1 2 Netherlands 126 11,154.2 3 USA 118 10,163.7 4 Germany 258 10,149.5 5 Multinationals 14 4,648.7 6 United Kingdom 56 4,337.2 7 Italy 67 4,089.3 8 Sweden 60 3,715.2 9 Belgium 27 2,902.6 10 Denmark 50 2,096.2 11 Switzerland 28 1,617.5 12 Austria 40 1,223.7 13 Republic of Korea 6 1,167.9 14 Cyprus 4 1,110.5 15 Ireland 6 1,026.2 16 Portugal 4 678.4 17 Luxembourg 19 673.0 18 Finland 20 578.5 19 Greece 4 561.6 20 Spain 11 486.3 21 Russia 3 409.1 22 Japan 18 362.3 23 Norway 14 345.2 24 Croatia 2 219.0 25 Canada 13 210.9 26 Australia 3 159.5 27 Turkey 4 100.1 28 Czech Republic 5 75.0 29 Israel 4 70.4 30 Slovenia 2 70.3 31 Republic of South Africa 1 57.2 32 Hungary 4 55.8 33 China 2 45.0 34 Philipines 1 40.0 35 Liechtenstein 5 16.9 36 Monaco 1 6.8 Investments exceeding USD 1 million 80,649.8 Estimated investments under USD 1 million 3,827.8 Total 84,477.6
Source: PAIiIZ
7 Table 4. The inflow of foreign investment to Poland according to the sectors of Polish Classification of Activities (PKD) in the year 2004
Inflow in 2004 PKD Percantage Share (USD in millions)
Manufacturing 3,251.5 41.4
transport equipment 703.0 8.9
chemicals and chemical products 485.9 6.2
metals and metal products 468.4 6.0
electrical machinery and apparatus 450.6 5.7
other non-metal goods 304.9 3.9
machinery and equipment 218.0 2.8
pulp and paper 181.0 2.3
rubber and plastics 165.3 2.1
food processing 135.3 1.7
furniture production 101.1 1.3
fabrics and textiles 32.8 0.4
wood and wooden products 5.3 0.1
leather and leather products 0.0 0.0
Financial intermediation 2,115.2 26.9
Real estate and business activities 865.5 11.0
Trade and repairs 848.7 10.8
Construction 560.3 7.1
Power, gas and water supply 507.8 6.5
Agriculture 14.5 0.2
Hotels and restaurants 10.9 0.1
Community, social and personal services 3.8 0.0
Mining and quarrying 1.6 0.0
Transport, storage and communication -321.9 -4.1
Total 7,857.7 100.0
Source: PAIiIZ
8 Table 5. The accumulated value of foreign direct investment in Poland according to Polish Classification of Activities (PKD) (as of De cem ber 31, 2004)
Capital invested PKD Percantage Share (USD in millions)
Manufacturing 32,199.9 39.9
transport equipment 6,663.6 8.3
food processing 6,624.8 8.2
other non-metal goods 4,205.5 5.2
electrical machinery and apparatus 3,250.0 4.0
chemicals and chemical products 3,245.2 4.0
pulp and paper 2,086.0 2.6
wood and wooden products 1,692.1 2.1
rubber and plastics 1,459.0 1.8
metals and metal products 1,278.3 1.6
machinery and equipment 1,023.7 1.3
furniture production 349.7 0.4
fabrics and textiles 290.5 0.4
leather and leather products 31.4 0.0
Financial intermediation 18,878.5 23.4
Trade and repairs 9,517.4 11.8
Transport, storage and communication 7,861.4 9.7
Power, gas and water supply 3,207.6 4.0
Real estate and business activities 2,952.7 3.7
Community, social and personal services 2,732.2 3.4
Construction 2,110.1 2.6
Hotels and restaurants 885.3 1.1
Mining and quarrying 228.6 0.3
Agriculture 76.3 0.1
Investments exceeding USD 1 million 80,649.8 100.0
Estimated investments not exceeding USD 1 million 3,827.8
Total 84,477.6
Source: PAIiIZ
9 The List of Major Foreign Investors in Poland December 2004
Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments (as of of registration of origin (PKD) (class) December 31, 2004)
43.93% stake in Telekomunikacja Polska S.A. (Warsaw), 66% stake in PTK transport, Centertel Sp. z o. o. (Warsaw), Equant 1 France Telecom 4,470.4 France France storage and telecommunications Poland (Warsaw), France Telecom communication Polska (Warsaw), Sofrecom Warszawa (Warsaw)
Foreign direct investment projects incl.: European BPH PBK S.A., Dalkia Termika, Fiat/ Bank for financial banking, capital FSM, Kredyt Bank, Kruszwica S.A., 2 Reconstruction 4,000.0 International International intermediation investment Lafarge Polska, PKP reconstruction and and Development privatisation projects, PEKAO S.A., (EBRD) Polska Telefonia Cyfrowa Sp. z o. o.
Fiat Auto Poland S.A., Teksid Poland S.A., Magneti Mareli (Magneti Marelli After Market, Magneti Marelli manufacture manufacture of Suspension System, Magneti Marelli of transport motor vehicles, life Thermal System), New Holland Bizon, 3 Fiat 1,800.6 Italy Italy equipment; insurance, pension Comau, Fenice, Fiat Bank Polska, Fiat financial funding, non-life Finance Polska S.A., Fiat Ubezpieczenia intermediation insurance, banking Majątkowe S.A., Fiat Ubezpieczenia Życiowe S.A., Toro Poland Investments Sp. z o. o., Business Solutions Polska, Ingest Segim Polska, ITS-GSA Polska
KBC Representative Office Polska financial (Warsaw), 66.5% stake in Kredyt Bank 4 KBC Bank N.V. 1,743.4 Belgium Belgium banking, insurance intermediation S.A., 70.11% stake in Agropolisa S.A. (Warsaw), 75.13% stake in Warta S.A.
Metro Group S.A., Metro Group Real Estate Management Polska Sp. z o. o., wholesale and wholesale and retail Makro Cash & Carry Polska S.A., Real 5 Metro Group AG 1,508.0 Germany Germany retail trade trade Sp. z o. o., Praktiker Polska Sp. z o. o., Media Markt Sp. z o. o. - supermarkets chains
HypoVereinsbank Bank Hipoteczny S.A., financial banking, other credit BPH Leasing S.A., PBK Inwestycje 6 HVB 1,336.0 Germany Germany intermediation granting S.A., PBK Property Sp. z o. o., Centrum Bankowości Bezpośredniej Sp. z o. o.
financial banking, other credit Citibank Bank Handlowy w Warszawie 7 Citigroup 1,300.0 USA USA intermediation granting S.A. (Warsaw)
retail sale in non- specialized stores United wholesale and 8 Tesco Plc 1,300.0 United Kingdom with food, beverages supermarkets chain Kingdom retail trade or tobacco predominating
construction, general construction Apollo-Rida real estate of buildings and 9 1,300.0 USA USA Apollo-Rida Poland Sp. z o. o. (Warsaw) Poland Llc. and business civil engineering activities works
10 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) transport, storage and communication; telecommunications; 49% stake in Elektrim Telekomunikacja real estate, management Vivendi S.A. (Warsaw), 50% stake in Carcom 10 1,243.4 France France renting and activities of holding Universal Warszawa Sp. z o. o. (Warsaw), 10% business companies; sale of stake in Elektrim S.A. (Warsaw) activities; motor vehicles wholesale and retail trade
other United community, UPC Polska (Warsaw), 25% in UPC Pan-Europe radio and television 11 1,200.0 Netherlands Netherlands social and Telewizja Kablowa (Warsaw), 25% in Communications activities personal service Canal + Cyfrowy N.V. activities
UniCredito financial 53.2% stake in Bank Pekao S.A. 12 1,200.0 Italy Italy banking Italiano SpA intermediation (Warsaw)
sawmilling and planing of wood; Kronospan PL Sp. z o. o., Polspan impregnation of Sp. z o. o., Krono-Chem Sp. z o. o. wood; manufacture manufacture (Szczecinek); Melnox Sp. z o. o., Krono- of veneer sheets; Kronospan of wood Wood Sp. z o. o. (Mielec); Maltadecor 13 1,061,8 Cyprus Cyprus manufacture Holdings Ltd. and wooden S.A., Malta Trading Sp. z o. o. (Poznań), of plywood, products Rudawadecor Sp. z o. o. (Rudawa); laminboard, particle Kronoerg Sp. z o. o. (Pustków); board, fibre board Kronoplus Sp. z o. o. (Jasło) and other panels and boards
production and 75% stake in Elektrociepłownie electricity, distribution of Warszawskie S.A., 75% stake in 14 Vattenfall AB 1,029.2 Sweden Sweden gas and water electricity, steam Górnośląski Zakład supply and hot water supply Elektroenergetyczny S.A.
Opel Polska Sp. z o. o. (Gliwice) - car manufacture General Motors manufacture of production, General Motors Poland Sp. 15 1,010.0 USA USA of transport Corporation motor vehicles z o. o. (Warsaw), GMAC Commercial equipment Finance Sp. z o. o. (Warsaw)
ING Bank NV (Warsaw), ING Baring Securities S.A. (Warsaw), Nationale- Nederlanden Polska S.A. (Warsaw), ING Lease (Polska) (Warsaw), 50% banking, life financial stake in ING BSK Asset Management insurance, pension 16 ING Group NV 990.0 Netherlands Netherlands intermediation, S.A. (Warsaw), ING BSK Towarzystwo funding, non-life real estate Funduszy Inwestycyjnych S.A. insurance, real estate (Katowice), ING Real Estate Sp. z o. o. (Warsaw), 54% stake in Bank Śląski S.A. (Katowice), 80% stake in PTE Nationale- Nederlanden Polska S.A. (Warsaw)
retail sale in non- specialized stores wholesale and 29 hypermarkets and 70 supermarkets 17 Carrefour 980.0 France France with food, beverages retail trade (Globi, Champion) or tobacco predominating
manufacture of manufacture television and radio of electrical receivers, sound Daewoo Electronics Manufacturing Republic Republic machinery and video recording 18 Daewoo 936.4 Poland Sp. z o. o., Daewoo Towarzystwo of Korea of Korea and apparatus; or reproducing Ubezpieczeniowe S.A. financial apparatus and intermediation associated goods, non-life insurance
11 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) Enterprise Investors manages a group of venture capital/private equity funds: Polish Enterprise Fund IV L.P., Polish Enterprise Fund V, Polish Enterprise Fund, Polish-American Enterprise Fund; Enterprise financial 19 914,5 USA USA capital investment Polish Private Equity Fund I and II; main Investors intermediation investments in Poland: Agros Nova Sp. z o. o., Apteki Polskie S.A., Comp S.A., Kruk Systemy Inkaso Sp. z o. o., LPP S.A., Netia S.A., Nomi S.A., Magellan Sp. z o. o. , Opoczno S.A., Sfinks S.A.
manufacture of parts Volkswagen Poznań Sp. z o. o. (Poznań), and accessories Volkswagen Elektrosystemy Sp. z o. o. manufacture for motor vehicles (Gorzów Wielkopolski), Volkswagen of transport and their engines; Motor-Polska Sp. z o. o. (Polkowice), 20 Volkswagen AG 873.1 Germany Germany equipment; banking, financial 51% stake in Sitech Sp. z o. o. (Legnica financial leasing, life SEZ), Volkswagen Ubezpieczenia Sp. intermediation insurance, pension z o. o. (Warsaw), Volkswagen Leasing funding, non-life Polska Sp. z o. o. (Warsaw), Volkswagen insurance Bank Polska S.A. (Warsaw)
Compagnie de Saint-Gobain, Saint- Gobain Glass Polska (Dąbrowa Górnicza), Glaspol (Jaroszowiec), Aurys-Lustra (Namysłów), Saint-Gobain manufacture of glass Sekurit Hanglas Polska (Dąbrowa and glass products: Górnicza), Autover Polska (Łódź), Saint- manufacture of manufacture of flat Gobain Euroveder (Żary), Saint Gobain 21 Saint-Gobain 855.0 France France other non-metal glass; manufacture Isover Polska (Gliwice), Saint-Gobain goods of glass fibres; Velimat Polska (Gorlice), Saint-Gobain production of Ecophon (Piaseczno), Saint-Gobain abrasive products Abrasives (Koło), Saint-Gobain Weber Terranova (Gdynia), Okfens (Czeladź), Raab Kaarcher Mat Bud (Bielany Wrocławskie), La Plateforme Polska (Warsaw)
retail sale in non- specialized stores Geant Polska Sp. z o. o. (Warsaw) wholesale and 22 Casino 801.0 France France with food, beverages - 17 supermarkets, Leader Price – 163 retail trade or tobacco supermarkets predominating
BP Poland Sp. z o. o. (Kraków), BP Gas Poland Sp. z o. o. (Swarzędz), BP BP International United wholesale and retail sale of 23 800.0 Netherlands Express Sp. z o. o. (Kraków), Castrol B.V. Kingdom retail trade automotive fuel Lubricants Sp. z o. o. (Warsaw), Aral Polska Sp. z o. o. (Kraków)
financial banking, financial Lukas Bank S.A. (Wrocław), Europejski 24 Credit Agricole 740.0 France France intermediation leasing Fundusz Leasingowy S.A. (Wrocław)
community, social and 25 Canal Plus 730.0 France France tv activities Canal + Cyfrowy Sp. z o. o. personal services
12 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) Lafarge Polska S.A. (Warsaw) - shares in: Kombinat Cementowo-Wapienniczy manufacture of KUJAWY (Bieławy, Kujawsko- concrete products Pomorskie Voivodship), cement manufacture of for construction plant Małogoszcz, (Świętokrzyskie 26 Lafarge 690.0 France France other non-metal purposes; Voivodship), cement plant Wierzbica, goods manufacture of (Mazowieckie Voivodship), Lafarge plaster; manufacture Cement Polska S.A., Lafarge Gips of cement Polska S.A., BRAAS Polska Sp. z o. o. - roofing tiles and shingles production
70.5% stake in Bank Zachodni WBK Allied Irish financial 27 680.0 Ireland Ireland banking S.A. (Wrocław), BZ WBK AIB Asset Bank Plc intermediation Management S.A. (Poznań)
retail sale in non- Auchan Polska Sp. z o. o., Elea Polska specialized stores wholesale and Sp. z o. o., Leroy-Merlin Sp. z o. o., 28 Auchan S.A. 672.2 France France with food, beverages retail trade Przedsiębiorstwo Handlowo - Usługowe or tobacco Robert Sp. z o. o. predominating
Commerzbank financial 29 646.4 Germany Germany banking 72.16% stake in BRE Bank S.A. AG intermediation
Elektrociepłownia Kraków S.A. (Kraków), Zespół Elektrociepłowni Electricite production and “Wybrzeże” S.A. (Gdańsk), Elektrownia electricity, de France distribution of Rybnik S.A. (Rybnik), Zespół 30 600.0 France France gas and water Internationale electricity, steam Elektrociepłowni Wrocławskich supply (EDF) and hot water supply Kogeneracja S.A. (Wrocław), 45% stake in Elektrociepłownia Toruń S.A., EDF Polska Sp. z o. o. (Warsaw)
IKEA International A/S, IKEA Polska S.A., IKEA Hanim Poland S.A., IKEA Retail Sp. z o. o. - supermarket chain, other retail sale in 31 IKEA 600.0 Sweden Sweden retail trade IKEA Trading & Design AG (Janki near specialized stores Warsaw), 80% stake in Szczeciński Przemysł Drzewny S.A., factory in Chłastów (Lubuskie Voivodship)
manufacture Heineken of food, drinks Heineken Polska Sp. z o. o. (Warsaw), 32 International 590.0 Netherlands Netherlands manufacture of beer and tobacco 61.78% stake in Grupa Żywiec S.A. B.V. products
Górażdże Cement S.A., Cementownia Groszowice Sp zo o. (Opole), Cementownia Wiek S.A. (Ogrodzieniec), Zielonogórskie Kopalnie Surowców Mineralnych S.A., Opolskie Kopalnie Surowców Mineralnych Sp. z o. o., Górażdże Beton Polska Sp. z manufacture of manufacture of o. o., Górabet Sp. z o o., Górażdże 33 CBR Baltic BV 525.3 Netherlands Netherlands other non-metal cement, lime and Trade Sp. z o. o., Zakład Transportu goods plaster Samochodowego Górażdże Sp. z o. o., Górażdże Trans Sp. z o. o., Górażdże Mix Sp. z o. o., Górażdże Wapno Sp. z o. o., Górażdże Sabinów Sp. z o. o., Scancem Polska Sp. z o. o., Przedsiębiorstwo Spedycji Jastrowie Sp. z o. o., EKOCEM (Katowice SEZ)
life insurance, financial 34 Eureko B.V. 522.4 Netherlands Netherlands pension funding, 20.91% stake in PZU S.A. (Warsaw) intermediation non-life insurance
13 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture of television and radio manufacture Thomson receivers, sound of electrical Thomson Multimedia Polska Sp. z o. o. 35 Tubes and 521.0 France France and video recording machinery and (Piaseczno) Displays S.A. or reproducing apparatus apparatus and associated goods
CC HBC manufacture Coca-Cola Beverages Polska Sp. z o. o. production of (Coca-Cola of food, drinks (Warsaw), Coca-Cola Poland Services 36 513.0 Greece USA mineral waters and Hellenic Bottling and tobacco Sp. z o. o. (Warsaw), 3 plants in Łódź, soft drinks Company) products Staniątki near Krakow and Radzymin
Toyota Motor Poland Co. Ltd. (Warsaw), manufacture of parts Toyota Motor Manufacturing Poland manufacture and accessories for Sp. z o. o. (Wałbrzych) - car parts store, 37 Toyota 507.1 Belgium Japan of transport motor vehicles and Toyota Motor Industries Poland Sp. z o. o. equipment their engines (Jelcz-Laskowice), Toyota Bank Polska S.A. (Warsaw)
manufacture 96.4% stake in Imperial Tobacco Imperial United of food, drinks manufacture of 38 500.0 United Kingdom Polska S.A. (Jankowice near Tarnowo Tobacco Plc Kingdom and tobacco tobacco products Podgórne) products
manufacture Campagnie manufacture of Michelin Polska S.A. of rubber 39 Financiere 473.0 Switzerland France rubber tyres and (formerly Stomil Olsztyn S.A.), and plastics; Michelin tubes Michelin Polska Sp. z o. o. (Warsaw) automotive
construction, general construction real estate of buildings and Cefic Polska Sp. z o. o. (Warsaw), 40 BEG S.A. 471.5 France France and business civil engineering Beg Ingenierie Polska Sp. z o. o. activities works
manufacture of pulp, manufacture International Paper Poland (Warsaw), manufacture of of paper and International Paper - Kwidzyn pulp and paper, paperboard, 41 IPC 450.9 USA USA S.A.(Kwidzyn), Impap Sp. z o. o., publishing and manufacture and Tor-Pal Sp. z o. o. (Kwidzyn), printing household and Bartorex Sp. z o. o. (Kwidzyn) sanitary goods and of toilet requisites
Fiat-GM manufacture of Fiat GM Powertrain Polska Sp. z o. o. 42 450.0 Netherlands Italy/USA automotive Powertrain B.V. diesel engines (Bielsko Biała)
wholesale and retail sale of 43 Statoil 430.0 Denmark Norway Statoil Poland Sp. z o. o. (Warsaw) retail trade automotive fuel
Philips Lighting Poland (Piła), Philips DAP Industries Poland Sp. z o. o. (Białystok) Philips Lighting manufacture manufacture of Farel Mazury (Kętrzyn), Philips Royal Philips of electrical 44 411.4 Netherlands Netherlands lighting equipment Lighting Bielsko Sp. z o. o. (Bielsko), Electronics N.V. machinery and and electric lamps Philips Lighting Pabianice Sp. z o. o. apparatus (Pabianice), Philips Poland Sp. z o. o. (Warsaw), Philips Ferpol Sp. z o. o. (Skierniewice)
transport, 48% stake in Europol Gaz S.A. storage and transport via 45 OAO Gazprom 401.0 Russia Russia (Warsaw), 32% stake in Polgaz communication; pipelines Telekom S.A. construction
14 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture of veneer sheets; manufacture manufacture Krono-Holding of wood of plywood, 46 400,0 Switzerland Switzerland Kronopol Sp. z o. o. (Żary) AG and wooden laminboard, particle products board, fibre board and other panels and boards
electricity, production and 47 RWE Plus AG 400.0 Germany Germany gas and water distribution of Stoen S.A. (Warsaw) supply electricity
General Electric International, Inc. - Representative Office in Warsaw, GE Capital Bank (Gdańsk), GE Bank Mieszkaniowy (Warsaw), GE Power Controls - factories in Bielsko-Biała, banking, Kłodzko, Łódź, GE Medical Systems manufacture Polska Sp. z o. o. (Warsaw), GE Aircraft financial of instruments Engines (Warsaw), GE Power Systems General intermediation, and appliances (Warsaw), Bently Nevada Poland Electric manufacture for measuring, 48 400.0 USA USA Sp. z o. o. (Poznań), GE Wind Energy Corporation of electrical checking, testing, (Warsaw), GE Oil & Gas (Warsaw), GE (GE) machinery and navigating and other Transportation Systems (Rzeszów), EST apparatus purposes, except Energy Sp. z o. o. (Otwock), GE Rail industrial process Services (Warsaw), GE TIP (Gądki), GE control equipment Capital Europe (Warsaw), GE Frankona Re (Warsaw), GE Consumer Products (Warsaw), GE Interlogix Polska (Gdańsk), GE Plastics (Warsaw), GE Multilin (Gliwice), GE Betz (Warsaw)
manufacture Glaxo United of chemicals manufacture of Glaxo SmithKline Pharmaceuticals S.A. 49 392.2 United Kingdom SmithKline Kingdom and chemical pharmaceuticals – factory in Poznań products
manufacture manufacture of basic LNM Mittal Steel Poland S.A. (Dabrowa 50 390.0 Netherlands India of metals and iron and steel and of Holdings N.V. Górnicza) metal products ferro-alloys
retail sale in non- specialized stores Jeronimo wholesale and Jeronimo Martins Dystrybucja Sp. z o. o. 51 386.3 Portugal Portugal with food, beverages Martins Holding retail trade (Poznań), Biedronka supermarkets chain or tobacco predominating
Delphi Poland S.A. (Kraków), factories manufacture of parts Delphi manufacture in Błonie, Ostrow Wielkopolski, and accessories for 52 Automotive 380.0 USA USA of transport Jeleśnia, Gdańsk, Krosno; Delphi Polska motor vehicles and Systems equipment Automotive Systems Sp. z o. o. - factory their engines in Tychy; R&D Center in Kraków
manufacture of Nestle Polska S.A (Warsaw, Kalisz, manufacture cocoa; chocolate and Poznań), 50% stake in Cereal Partners of food, drinks sugar confectionery; 53 Nestle S.A. 365.0 Switzerland Switzerland Poland Toruń-Pacific Sp. z o. o. (Toruń), and tobacco production of 50% stake in Nałęczowianka Sp. z o. o. products mineral waters and (Nałęczów) soft drinks
manufacture 99.89% stake in Philip Morris Polska Philip Morris of food, drinks manufacture of 54 364.0 Netherlands Netherlands S.A. (Kraków) - factories in Kraków and Holland B.V. and tobacco tobacco products Leżajsk products
15 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture House of Prince of food, drinks manufacture of 55 348.0 Denmark Denmark Scandinavian Tobacco S.A. (Myślenice) Denmark A/S and tobacco tobacco products products
transport, storage and communication; telecommunications, Telia S.A., shares in Eniro Polska 56 Telia AB 340.0 Sweden Sweden manufacture of printing n.e.c. Sp. z o. o. pulp and paper, publishing and printing
stake in Grupa Ożarów S.A., Cement manufacture of Olsztyńskie Kopalnie Surowców Roadstone manufacture of 57 333.0 Ireland Ireland other non-metal Mineralnych Sp. z o. o. (Olsztyn), Holding Plc cement goods 85% stake in Zakłady Przemysłu (CRH) Wapienniczego Trzuskawica S.A.
community, Multikino Sp. z o. o. (M. Investments), motion picture ITI Media social and TVN, TVN 7, TVN 24, TVN Meteo, ITI 58 330.0 Netherlands Netherlands projection; radio and Group NV personal Film Studio, Onet.pl, Optimus Pascal television activities services Multimedia, Tenbit.pl, DRQ
manufacture of food, drinks 30.8% stake in Grupa Żywiec S.A. 59 Harbin B.V. 325.9 Netherlands Netherlands manufacture of beer and tobacco (Żywiec) products
wholesale of office machinery and equipment, wholesale of electrical household appliances and radio and television goods, wholesale trade and of household repairs; goods, wholesale of Siemens Sp. z o. o., Siemens iCenter, financial wood, construction OSRAM, Bosch-Siemens Hausgeräte, intermediation; materials and Siemens Finance Sp. z o. o., Westinghouse real estate sanitary equipment, Modelpol Sp. z o. o., Alarmcom Bielski 60 Siemens AG 323.6 Germany Germany and business financial leasing, Sp. z o. o., Siemens Fabryka Izolatorów activities; architectural Polska Sp. z o. o., Fujitsu Siemens manufacture and engineering Computers Sp. z o. o., VW Elektro- of electrical activities and Systemy machinery and related technical apparatus consultancy, manufacture of electricity distribution and control apparatus, manufacture of lighting equipment and electric lamps
16 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) Deutsche Bank Polska S.A. (Warsaw), Deutsche Bank PBC S.A. (Kraków), DWS Polska TFI S.A. (Warsaw), Deutsche Asset Management S.A. (Warsaw), DB Securities S.A. (Warsaw), Deutsche financial 61 319.9 Germany Germany banking DIL Polska Baumanagement Sp. z o. Bank AG intermediation o. (Warsaw), DIL Polska Real Estate Leasing Sp. z o. o. (Warsaw), DBG Eastern Europe Polska Sp. z o. o. (Warsaw), DB Real Estate Polska 1 Sp. z o. o. (Warsaw)
manufacture United British American of food, drinks manufacture of British-American Tobacco Polska S.A. 62 300.0 Germany Kingdom/ Tobacco GmbH and tobacco tobacco products (Augustów) USA products
hotels and hotels and motels, 63 Accor SA 280.0 France France 29.34% stake in Orbis S.A. (Warsaw) restaurants with restaurant
Europolis Invest Sp. z o. o. (Warsaw), EUROPOLIS development and real estate portfolio: Alliance Logistics 64 279.8 Austria Austria real estate INVEST selling of real estate Center, Bitwy Warszawskiej, Saski Point, Sienna Center, Warsaw Towers
Nordea Bank Polska S.A. (Gdynia), Nordea Bank NORDEA Polska Towarzystwo financial banking, life 65 Sweden AB 279.0 Sweden Sweden Ubezpieczeń na Życie S.A., NORDEA intermediation insurance (Nordea Group) FINANCE POLSKA S.A., LG Petro Bank S.A
manufacture bottling plants (Łódź, Białystok, Gdańsk, production of of food, drinks Kraków, Poznań, Szczecin, Wrocław, 66 PepsiCo 275.0 USA USA mineral waters and and tobacco Żywiec, Leżajsk and Pniewy), salted soft drinks products snacks factory (Grodzisk Mazowiecki)
Banco financial 67 Commercial 273.0 Portugal Portugal banking 50% stake in Bank Millennium S.A. intermediation Portugues S.A.
manufacture of soap and detergents, cleaning manufacture and polishing of chemicals preparations; and chemical manufacture of Unilever Polska S.A. (Warsaw), products; perfumes and manufacturing plants in Bydgoszcz, 68 Marga B.V 270.0 Netherlands Netherlands manufacture of toilet preparations; Banino near Gdańsk, Katowice and food products, processing and Poznań beverages and preserving of fish tobacco and fish products; manufacture of vegetable and animal oils and fats
Commercial Union Polska Sp. z o. o., Commercial Union Polska – Towarzystwo Ubezpieczeń Ogólnych life insurance, S.A., Commercial Union Polska pension funding, – Towarzystwo Ubezpieczeń na Życie United financial 69 AVIVA Plc. 270.0 United Kingdom non-life insurance; S.A., Commercial Union Powszechne Kingdom intermediation security broking and Towarzystwo Emerytalne BPH CU WBK fund management S.A., Commercial Union Investment Management (Polska) S.A., Commercial Union Polska - Towarzystwo Funduszy Inwestycyjnych S.A.
17 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) Skanska Project Development Europe AB – Atrium Centrum Sp. z o. o., Skanska Oeresund AB – Atrium Plaza construction, general construction Sp. z o. o. (both managed by Skanska Skanska real estate of buildings and 70 255.2 Sweden Sweden Property Poland (Warsaw); Skanska Kraft AB and business civil engineering International Building AB – Skanska activities works Polska Sp. z o. o. (Warsaw), 94% of shares of Exbud S.A. (Kielce), Westin Hotel (Warsaw)
GE Capital Real Estate/Heitman development and 11 business galleries, Wiśniowy Business 71 Central Europe 254.7 Netherlands International real estate selling of real estate Park, Janki Center Property Partners
Shell Polska Sp. z o. o. (Warsaw) – gas wholesale of solid, station network, Alfa Select Sp. z o. o. Shell Overseas United liquid and gaseous 72 245.4 United Kingdom retail trade (Warsaw), Smark Polska Sp. z o. o. Holdings Limited Kingdom fuels and related (Warsaw), Shell Autoserv Sp. z o. o. products (Warsaw)
Złote Tarasy - shopping and development and entertainment (Warsaw), 50% stake in 73 Rodamco 240.0 Netherlands Netherlands real estate selling of real estate Galeria Mokotów - shopping centre (Warsaw)
Pilkington Polska Sp. z o. o. Pilkington manufacture of shaping and (Sandomierz), Pilkington Automotive United 74 International 235.8 Netherlands other non-metal processing of flat Poland Sp. z o. o. (Sandomierz), Kingdom Holdings B.V. goods glass Pilkington IGP S.A. (Warsaw), Pilkington AGR Polska (Warsaw)
production and 99.6% stake in Elektrownia power, gas and 75 Electrabel S.A. 232.9 Belgium Belgium distribution of im. T. Kościuszki (Połaniec), water supply electricity Electrabel Polska Sp. z o. o. (Katowice)
manufacture manufacture of Bridgestone 76 221.0 Japan Japan of rubber and radial tires for Bridgestone Poland Sp. z o. o. (Poznań) Corporation plastics passenger car
manufacture manufacture of IVAX of chemicals 77 210.0 USA USA pharmaceutical 99.3% stake in Polfa Kutno S.A. Corporation and chemical preparations products
Raiffeisen Bank Polska S.A., Raiffeisen Raiffeisen Leasing Polska S.A. (Warsaw), financial investment banking, 78 Zentralbank 208.6 Austria Austria Raiffeisen Factoring Polska Sp. z o. o. intermediation financial leasing Osterreich AG (Warsaw), Raiffeisen Capital Investment Polska Sp. z o. o. (Warsaw)
manufacture of veneer sheets; 60.3% stake in Pfleiderer Grajewo S.A. manufacture manufacture (Podlaskie Voivodship), Pfleiderer of wood of plywood, 79 Pfleiderer AG 204.6 Germany Germany Prospan S.A. (Wieruszów, Łódzkie and wooden laminboard, particle Voivodship), Laminat Sp. z o. o. products board, fibre board (Grajewo, Podlaskie Voivodship) and other panels and boards
Faurecia Fotele Samochodowe Sp. z o. o. manufacture of parts manufacture (Grójec), Faurecia Wałbrzych Sp. z o. o. Faurecia and accessories for 80 204.3 France France of transport (Wałbrzych), Faurecia Gorzów (Gorzów Investments motor vehicles and equipment Wielkopolski), Faurecia SAI Legnica their engines (Legnica)
18 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) GATX Rail transport, Overseas freight transport by 100% of shares of Dyrekcja Eksploatacji 81 202.3 USA USA storage and Holding road Cystern (DEC) Sp. z o. o. (Warsaw) communication Corporation
manufacture of Dalkia Termika S.A. (Warsaw), Dalkia gas; distribution Poznań S.A., Dalkia Poznań ZEC Dalkia power, gas and of gaseous fuels 82 201.4 France France S.A., Dalkia Zielona Góra Sp. z o. o., Termika S.A. water supply through mains, Dalkia Sopot Sp. z o. o., Dalkia Facility steam and hot water Management Sp. z o. o. (Warsaw) supply
general construction Epstein Development Sp. z o. o. of buildings and 83 Epstein 200.0 USA USA construction (Warsaw), Warsaw Corporate Center, civil engineering Warsaw Financial Center works
general construction 59% stake in Budimex S.A., Budimex of buildings and 84 Ferrovial 200.0 Spain Spain construction Dromex, Budimex Nieruchomości, civil engineering Budimex Projekt (Warsaw) works
manufacture Goodyear manufacture of of rubber 59.87% of shares of Dębica S.A. 85 Luxembourg 200.0 Luxembourg USA rubber tyres and and plastics; (Dębica) S.A. tubes automotive
manufacture of chemicals manufacture of Pliva Kraków Zakłady Farmaceutyczne 86 Pliva d.d. 200.0 Croatia Croatia and chemical pharmaceuticals S.A. (Kraków), Pliva R&D (Kraków) products
manufacture of Swedwood manufacture of 87 200.0 Netherlands Sweden furniture and Swedwood Poland S.A. (Szczecin) Holding BV furniture consumer goods
BOC Gazy Sp. z o. o. (Warsaw, Poznań, manufacture British Oxygen Siewierz and Wrocław), oxygene plant in United of chemicals manufacture of 88 Corporation 195.0 United Kingdom Piła, shares in Częstochowa steel plant - Kingdom and chemical industrial gases (BOC Group) technical gas production, Proxair Polska products (Warsaw)
manufacture and manufacture sale of diesel Ispol-IMG 89 192.7 Netherlands Netherlands of transport engines for Isuzu Motors Polska Sp. z o. o. (Tychy) Holdings B.V. equipment passenger cars and marine engines
Investment Fund 148 investment projects in Poland - financial 90 for Central and 191.8 Denmark Denmark capital investment contribution to equity of companies and intermediation Eastern Europe loans
Sampo Towarzystwo Ubezpieczeń S.A., Sampo S.A., Sampo Towarzystwo financial life insurance, 91 Sampo 190.0 Finland Finland Ubezpieczeń na Życie S.A. (Warsaw), intermediation pension funding, Sampo Powszechne Towarzystwo Emerytalne S.A.
manufacture manufacture of of soap and pulp and paper, detergents, cleaning publishing Procter & and polishing and printing; PROCTER & GAMBLE Operations 92 Gamble Mexico 190.0 Netherlands USA preparations; manufacture Polska Sp. z o. o. Holding manufacture and of chemicals household and and chemical sanitary goods and products of toilet requisites
19 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture of food, drinks manufacture of 93 Seita 180.0 France France Altadis Polska S.A. (Radom) and tobacco tobacco products products
manufacture manufacture of LG Electronics Polska Sp. z o. o. LG Republic Republic of electrical AGD machinery and 94 180.0 (Warsaw), LG Electronics Mława Electronics Inc of Korea of Korea machinery and equipment, trade of Sp. z o. o. (Mława) apparatus; trade electrical machinery
99.1% stake in Fortis Bank Polska S.A. Fortis Bank financial 95 179.0 Belgium Belgium banking (Warsaw), Fortis Securities Polska NV/S.A. intermediation (Warsaw), Fortis Lease Polska (Warsaw)
transport, Bates Telecom United Energis Polska Sp. z o. o., Cel Polska 96 176.4 United Kingdom storage and communication Ltd Kingdom Sp. z o. o., Telrise Sp. z o. o. communication
AVON wholesale of wholesale and Avon Operations Polska Sp. z o. o. 97 International 176.3 USA USA perfume and retail trade – factory in Garwolin Operations INC. cosmetics
50% of shares of Sadyba Best Mall, Plaza Centers letting of own Plaza Centres Poland (Kraków), Kraków 98 175.0 International Netherlands real estate Europe B.V property Plaza Sp. z o. o., Ruda Śląska Plaza Sp. z o. o.
life insurance, financial TU Allianz Polska S.A., TU Allianz 99 Allianz AG 175.0 Germany Germany pension funding, intermediation Życie Polska S.A. (Warsaw) non-life insurance
manufacture of food, drinks manufacture of 100 Ferrero Group 170.0 Italy Italy Ferrero Polska Sp. z o. o. (Warsaw) and tobacco sugar confectionery products
ERGO financial 99.4% stake in Sopockie Towarzystwo 101 International 167.8 Germany Germany insurance intermediation Ubezpieczeniowe Ergo Hestia S.A. Aktiengesselschaft
construction, general construction SINGSPIEL real estate of buildings and 102 INVESTERINGEN 167.0 Netherlands Netherlands Blue City Sp. z o. o. (Warsaw) and business civil engineering B.V. activities works
Esso distribution of 103 Deutschland 164.5 Germany Germany retail trade Exxonmobil Sp. z o. o. (Warsaw) petroleum products GmbH
manufacture F & P Holding manufacture of light 104 164.0 USA USA of metals and 56% stake in Can-Pack S.A. (Kraków) Company Inc. metal packaging metal products
manufacture of manufacture prepared pet food; of food, drinks Master Foods Polska Sp. z o. o. 105 Mars Inc. 160.0 USA USA manufacture of and tobacco (Sochaczew) cocoa; chocolate and products sugar confectionery
BSH Bosch manufacture of manufacture of BSH Sprzęt Gospodarstwa Domowego und Siemens 106 160.0 Germany Germany machinery and domestic appliances Sp. z o. o. (Warsaw), BSH Sp. z o. o. Hausgeräte equipment n.e.c. – factory in Łódź GmbH
United manufacture manufacture of 99.48% stake in WSK “PZL-Rzeszów” 107 Technologies 156.4 France USA of transport aviation engines S.A. Holding S.A. equipment
20 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) financial other financial 108 Innova Capital 150.0 USA USA Innova Capital Sp. z o. o. (Warsaw) intermediation intermediation
manufacture manufacture of Alcatel Polska S.A., Alcatel Business of electrical apparatus for line Systems Poland Sp. z o. o., Alcatel Setel 109 Alcatel 150.0 France France machinery and telephony and line Sp. z o. o. (Warsaw), Alcatel CIT Polska apparatus telegraphy Sp. z o. o. (Poznań)
Guardian manufacture of manufacture of flat Guardian Industries Poland Sp. z o. o. 110 Industries 150.0 Luxembourg USA other non-metal glass (Częstochowa) Corporation goods
Saint Louis manufacture Sucre of food, drinks manufacture of 111 150.0 France France 95% stake in Śląska Spółka Cukrowa S.A. International and tobacco sugar S.A.S. products
hotels and 112 McDonald’s 148.0 USA USA restaurants Mc Donald’s Polska Sp. z o. o. (Warsaw) restaurants
manufacture of manufacture of Cementownia Warszawa Sp. z o. o., 113 Dyckerhoff AG 148.0 Germany Germany other non-metal cement shares in cement plant Sitkówka Nowiny goods
71.3% stake in Frantschach Świecie S.A. (Świecie), Franpack CEE Świecie manufacture of manufacture of Sp. z o. o., Świecie Box Sp. z o. o., pulp and paper, pulp, manufacture 114 Framondi NV 144.0 Netherlands Netherlands Bystrzyckie Zakłady Wyrobów publishing and of paper and Papierowych S.A. (Bystrzyca Kłodzka), printing paperboard Frantschach Świecie Recykling Sp. z o. o., Papier Świecie Sp. z o. o.
manufacture Wm. Wrigley Jr. of food, drinks manufacture of 99.96% stake in Wrigley Poland Sp. z o. o. 115 144.0 USA USA Company and tobacco chewing gum (Poznań) products
manufacture manufacture of basic 84% stake in Huta Lucchini Warszawa 116 Lucchini Group 140.1 Italy Italy of metals and iron and steel and of Sp. z o. o. metal products ferro-alloys
manufacture manufacture of of paper and pulp and paper, 117 Arctic Paper AB 140.0 Sweden Sweden paperboard, Arctic Paper S.A. (Kostrzyn) publishing and manufacture of printing paper stationery
manufacture manufacture of Basell Europe of chemicals 50% stake in Basell Orlen Polyolefins 118 139.9 Netherlands Netherlands plastics in primary Holdings NV and chemical Sp. z o. o. (Płock) forms products
manufacture of Lucent manufacture television and radio Technologies of electrical transmitters and Lucent Technologies Poland S.A. 119 139.0 Netherlands USA Network Systems machinery and apparatus for line (Warsaw and Bydgoszcz) Netherlands BV apparatus telephony and line telegraphy
ENRON production and Elektrociepłownia Nowa Sarzyna Sp. z o. o. POLAND power, gas and distribution of 120 137.6 Netherlands USA (Nowa Sarzyna, Podkarpackie INVESTMENT water supply electricity, steam Voivodeship) B.V. and hot water supply
21 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) Danone Polska Sp. z o. o. (Warsaw), manufacture manufacture of manufacturing plants in Warsaw and BSN Gervais of food, drinks 121 135.5 France France cocoa; chocolate and Bieruń, Bakoma S.A. (Warsaw), Danone and tobacco sugar confectionery Bakoma Nova Sp. z o. o. (Kutno), products Bakoma Serwis Sp. z o. o.
Amcor Polska Sp. z o. o. - packages manufacture of manufacture of printing house (Łódź), Amcor White corrugated paper and pulp and paper, Cap Polska Sp. z o. o. (Niepołomnice), 122 Amcor Ltd 131.0 Australia Austria paperboard and of publishing and Amcor Pet Packaging Polska Sp. z o. o. containers of paper printing (Radomsko), Amcor Flexibles Polska and paperboard Sp. z o. o. (Łódź)
manufacture manufacture of engines and of machinery turbines, except and equipment; aircraft, vehicle Alstom Konstal S.A. (Chorzów), Alstom manufacture and cycle engines; Polska Sp. z o. o. (Warsaw, factories in 123 Alstom Holdings 130.2 France France of transport manufacture of Elbląg and Wrocław), Alstom Power equipment; railway and tramway FlowSystems Sp. z o. o. (Elbląg) manufacture locomotives and of rubber and rolling stock, plastic products manufacture of other plastic products
production and manufacture of distribution of 124 Indesit Company 130.0 Italy Italy machinery and Indesit Company Sp. z o. o. (Łódź) electrical household equipment appliances
manufacture manufacture of Cadbury’s United of food, drinks Cadbury Wedel Sp. z o. o. (Bielany 125 126.5 United Kingdom cocoa; chocolate and Schweppes Plc Kingdom and tobacco Wrocławskie), Cadbury Wedel (Warsaw) sugar confectionery products
production of parts manufacture 98% stake in Eaton Truck Components S.A Eaton and accesories for 126 125.0 USA USA of transport (Tczew), Eaton Automotive Sp. z o. o. Corporation motor vehicles and equipment (Bielsko-Biała) their engines
manufacture Swedish-Swiss capital, ABB Sp. z o. o. manufacture, sale of machinery (Warsaw) – branch offices in Łódź, and services in trade and equipment; Przasnysz, Kraków, Wrocław, Elbląg Sweden/ of machinery and 127 ABB Ltd. 123.1 International manufacture and exploratory center in Kraków; ABB Switzerland equipment, electrical of electrical Instal Sp. z o. o. (Wrocław), machinery and machinery and ABB Marine Sp. z o. o. (Elbląg); apparatus apparatus ABB Gazpetro Sp. z o. o. (Elbląg)
general construction of buildings and construction, Bau Holding civil engineering Strabag Sp. z o. o., 80% stake in Hotele 128 118.2 Austria Austria hotels and Strabag AG works, hotels Warszawskie “Syrena” restaurants and motels, with restaurant
publishing and publishing of Orkla Press Polska, Presspublica Sp. z o. o. 129 Orkla Press 113.0 Norway Norway printing newspapers (Warsaw)
European Retail real estate 5 shopping centres (Kraków, Wrocław, 130 Enterprises 110.0 France France and business real estate Warsaw, Katowice, Szczecin) (ERE) activities
manufacture Carlsberg of food, drinks 94.64% stake in Carlsberg Polska S.A. 131 110.0 Denmark Denmark manufacture of beer Breweries A/S and tobacco (Warsaw) products
22 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) 69.92% stake in UNIQUA Towarzystwo UNIQUA financial insurance and 132 110.0 Austria Austria Ubezpieczeń S.A. (Łódź), Towarzystwo International intermediation pension funding Ubezpieczeń “Filar” (Szczecin)
manufacture of manufacture of corrugated paper and Intercell S.A. (Ostrołęka, Warsaw, Lódź, pulp and paper, paperboard and of Tychy, Mosina near Poznań), Intercell 133 Stora Enso Oyj 108.0 Finland Finland publishing and containers of paper Recycling Sp. z o. o. (Warsaw), Scantrans printing and paperboard, Sp. z o. o. (Łódź) manufacture of pulp
manufacture of chemicals manufacture and chemical of soap and Henkel Polska S.A Warsaw), Ceresit 134 Henkel CEE 107.0 Austria Austria products, detergents, cleaning Sp. z o. o. (Dzierżoniów) manufacture of and polishing other non-metal preparations goods
Valeo Autosystemy Sp. z o. o. (Kraków, car components Skawina), Valeo Dystrybucja (Warsaw), 135 Valeo 104.3 France France automotive production Valeo Sylea Poland (Czechowice- Dziedzice)
other retail sale United trade and Castorama Polska Sp. z o. o. – 136 Kingfisher 104.0 United Kingdom of new goods in Kingdom repairs supermarkets chain specialized stores
Industrie manufacture of manufacture and Cartarie pulp and paper, household and 137 102.4 Italy Italy ICT Sp. z o. o. (Kostrzyn) Tronchetti SpA publishing and sanitary goods and (ICT) printing of toilet requisites
Vodafone transport, 138 Americas Asia 100.5 USA USA storage and telecommunications 19.6% stake in Polkomtel S.A. (Warsaw) Inc. communication
transport, TDC Mobile 139 100.5 Denmark Denmark storage and telecommunications 19.6% stake in Polkomtel S.A. (Warsaw) International A/S communication
Hicks Muse Tate & Furst, community, Emerging United social and 140 Markets 100.0 International Kingdom/ television activities Aster City Cable Sp. z o. o. personal Partnership and USA services Argus Capital Partners
community, D. Chase social and Polska Telewizja Kablowa S.A. (Warsaw, 141 100.0 USA USA television activities Enterprises personal Katowice, Gdańsk, Kraków and Lublin) services
Societe Nationale D’Electricite et power, gas and steam and hot water 63.64% stake in Elektrociepłownia 142 100.0 France France de Thermique water supply supply Białystok S.A. (Białystok) (SNET)
other retail sale of food, beverages Netto Sp. z o. o. (Stargard Szczeciński) 143 NETTO A/S 100.0 Denmark Denmark retail trade and tobacco in – supermarket chain specialized stores
financial 144 BNP Paribas 99.0 France France banking, insurance BNP Paribas Bank Polska S.A. (Warsaw) intermediation
23 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) general construction of buildings and Hines Polska Sp. z o. o. (Warsaw), 145 Hines 99.0 USA USA construction civil engineering Metropolitan Sp. z o. o. (Warsaw) works
manufacture of Passauer Neue pulp and paper, publishing and shares in newspapers, magazines and 146 98.0 Germany Germany Presse publishing and printing printing houses printing
ABN AMRO Bank Polska S.A., ABN AMRO Corporate Finance Polska Sp. ABN-AMRO financial 147 96.7 Netherlands Netherlands banking z o. o., ABN AMRO Securitas Polska Bank NV intermediation S.A., ABN AMRO Asset Management Polska S.A.
manufacture of manufacture of non- Fagor Fagor Polska Sp. z o. o., Wrozamet S.A. 148 94.7 Spain Spain machinery and electric domestic Electrodomesticos (Wrocław) equipment appliances
Linde Gaz Polska Sp. z o. o., Linde power, gas and manufacture of 149 Linde AG 94.0 Germany Germany Material Handling Polska Sp. z o. o. water supply industrial gases (Raszyn)
investment in various projects incl.: financial sector, heavy industry, tourism, medicare, food processing, International financial telecommunications, etc.; total value of 150 Finance 90.0 International International capital investment intermediation the IFC financial involvement in Poland Corporation including loans amounted to USD 563.6 million; total value of projects with the IFC contribution exceeded USD 2 billion
BSO Polska Sp. z o. o. (Warsaw), 68% manufacture British Sugar stake in Sugarpol (Toruń), 53.46% stake United of food, drinks manufacture of 151 Overseas (BSO) 90.0 United Kingdom in Cukrownia Glinojeck S.A., Cukrownia Kingdom and tobacco sugar Ltd. Pelplin S.A., Cukrownia Guzów S.A., products Sugar Tor Sp. z o. o.
manufacture of parts Lear Automotive (EEDS) Poland manufacture Lear and accessories for Sp. z o. o. (Mielec), Lear Corporation 152 89.5 USA USA of transport Corporation motor vehicles and Poland Sp. z o. o. (Tychy, Gliwice, equipment their engines Myslowice, Warsaw)
Knauf Bauprodukte Polska Sp. z o. o. (Rogowiec), Knauf Bełchatów Polska Sp. z o. o. – factory, Knauf Jaworzno III Sp. z o. o. – factory, Knauf Pack Knauf manufacture of Sp. z o. o. (Żyrardów) – factory, manufacture of 153 Verwaltungs- 88.4 Germany Germany other non-metal Knauf Service Sp. z o. o. (Jaworzno), plaster gesellschaft KG goods Knauf Trans Sp. z o. o. (Jaworzno), Knauf Sp. z o. o. (Warsaw), stake in Norgips Sp. z o. o. (Warsaw), Orth Gipse Sp. z o. o. (Jaworzno), PFT Systems Polska Sp. z o. o. (Jaworzno)
manufacture of other manufacture of non-metallic mineral 99.9% stake in Icopal S.A. (Zduńska 154 Icopal A/S 86.8 Denmark Denmark other non-metal products n.e.c. e.g. Wola) goods building materials
manufacture of manufacture of Norgips Opole Sp. z o. o. (Dobrzeń plaster products 155 Norgips 85.0 Norway Norway other non-metal Wielki), Norgips Polska Sp. z o. o. for construction goods (Warsaw) purposes
24 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) Foras Holding development and Foras Management Poland Sp. z o. o. 156 85.0 Denmark Denmark real estate A/S selling of real estate (Warsaw)
Eiffage general construction 157 85.0 France France construction 98.54% Mitex S.A. (Kielce) Construction of buildings
AVON wholesale of Avon Cosmetics Polska Sp. z o. o. 158 LUXEMBOURG 84.7 Luxembourg Luxembourg wholesale trade perfume and (Warsaw) HOLDINGS cosmetics
United transport and logistics centres near Częstochowa, 159 Hays 84.2 United Kingdom logistic activity Kingdom storage Błonie and Piotrków Trybunalski
mining of non- Deutsche Bank mining and ferrous metal ores, 160 Trust Company 84.0 USA Germany KGHM Polska Miedź S.A. (Lubin) quarrying except uranium and Americas thorium ores
TRW Steering Systems Poland Sp. z o. o. (Pruszków), TRW Polska Sp. z o. o. TRW AUTO car components (Częstochowa), TRW Steering Systems 161 HOLDINGS 84.0 USA USA automotive production Sp. z o. o. (Czechowice Dziedzice), INC. TRW Braking Systems Polska Sp. z o. o. (Gliwice)
Thorkild Kristensen Polska Sp. z o. o. general construction 162 TK Holding 83.0 Denmark Denmark construction (Warsaw) - shopping center in Szczecin, of buildings construction plans (Warsaw and Poznań)
93.19% stake in NSK Iskra S.A., Iskra manufacture of Zakłady Precyzyjne Sp. z o. o. , Iskra manufacture of NSK Europe bearings, gears, Zakłady Łożysk Specjalnych Sp. z o. o., 163 81.8 United Kingdom Japan machinery and Limited gearing and driving Iskra Centrum Narzędzi Specjalnych equipment elements Sp. z o. o., Iskra ZBM Sp. z o. o., Iskra ZUS Sp. z o. o.(Kielce)
Svenska financial Bank Svenska Handelsbanken 164 Handelsbanken 81.0 Sweden Sweden banking intermediation Polska S.A. (Warsaw) AB
manufacture manufacture of Pernod of food, drinks alcoholic beverages, 80% stake in Wyborowa S.A., 97.8% 165 80.4 France France Ricard S.A and tobacco manufacture of fruit stake in Agros Holding S.A.(Warsaw) products and vegetable juice
Volvo Polska Sp. z o. o. (Wrocław), manufacture manufacture of Volvo Polska Sp. z o. o. (Warsaw), 166 Volvo AB 80.0 Sweden Sweden of transport motor vehicles Truck and Bus Service Sp. z o. o. equipment (Długołęka)
R.R. Donnelley R.R. Donneley Europe Sp. z o. o. publishing and 167 International 80.0 Netherlands USA printing (Kraków), R.R. Donnelley Poland printing Inc. Sp. z o. o. (Kraków)
manufacture of Gaspol S.A. in Warsaw, 7 bottled power, gas and gas; distribution gas plants (Stęporków, Nowy Targ, 168 Pam-Gas BV 78.8 Netherlands Netherlands water supply of gaseous fuels Lubartów, Łomża, Rypin, Barlinek, through mains Pleszew), 10 depots
25 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) banking, life insurance, pension AIG Lincoln Sp. z o. o. (Warsaw), AIG funding, non-life Amplico Life S.A. (Warsaw), AIG Bank insurance, financial Polska S.A. (Warsaw), AIG Powszechne financial leasing, security Towarzystwo Emerytalne S.A. (Warsaw), 169 AIG 78.5 USA USA intermediation, broking and fund AIG Poland TU S.A. (Warsaw), AIG construction management, OFE (Warsaw), AIG Credit S.A. management of (Wrocław), AIG Asset Management S.A. real estate on a fee (Warsaw) or contract basic, construction
manufacture manufacture of of food, drinks Cargill Poland Sp. z o. o. (Warsaw), 170 Cargill Inc. 77.0 USA USA prepared feeds for and tobacco factory in Bielany Wrocławskie farm animals products
Europort Grain transport and Europort Grain Terminal (Gdańsk) 171 76.6 Canada Canada cargo handling Terminal storage – reloading
manufacture manufacture of steel Ball Packaging Ball Packaging Europe Radomsko 172 76.3 USA USA of metals and drums and similar Europe GmbH Sp. z o. o. metal products containers
Hotele G.E. Polska Sp. z o. o. (Warsaw) LOUVRE hotels and 173 76.6 France France hotels and - hotels in Warsaw, Kraków, Katowice, HOTELS SAS restaurants restaurants Szczecin, Wrocław, Poznań and Lublin
wholesale of solid, Shell Gas (LPG) liquid and gaseous Shell Gas Polska Sp. z o. o. (Warsaw), 174 75.1 Netherlands Netherlands retail trade Holdings fuels and related Gaz Centrum Sp. z o. o. (Warsaw) products
production and power, gas and 175 Swepol Link AB 75.0 Sweden Sweden distribution of Swepol Link (Poland) Sp. z o. o. water supply electricity
Provident United financial Provident Polska S.A (Warsaw) – 62 176 75.0 United Kingdom other credit granting Financial Plc. Kingdom intermediation branches in Poland
Zurich Towarzystwo Ubezpieczeń life insurance, S.A., Generali Życie Towarzystwo Generali Holding financial 177 74.5 Austria Austria pension funding, Ubezpieczeń S.A., Generali Vienna AG intermediation non-life insurance Towarzystwo Ubezpieczeń S.A., Zurich Towarzystwo Ubezpieczeń na Życie S.A.
Portico Development Sp. z o. o., Silver Screen World Cinemas Sp. z o. o., buying and selling 178 AP Portico Sarl 72.5 Luxembourg Luxembourg real estate Portico Port Sp. z o. o., Portico Galicja of own real estate Sp. z o. o., Portico Heveliusz Sp. z o. o., Silver Screen Targówek Sp. z o. o.
manufacture manufacture of Petro Carbo of chemicals 98.37% Zaklady Chemiczne Rokita S.A. 179 72.4 Germany Germany fertilizers and Chem AG (PCC) and chemical (Brzeg Dolny), PCC Rail Szczakowa S.A. nitrogen compounds products
manufacture Kraków based companies: Air Liquide of chemicals manufacture of 180 Air Liquide S.A. 72.0 France France Polska Sp. z o. o., Alkat Sp. z o. o., and chemical industrial gases Alpol Sp. z o. o. products
production of parts and accesiories for 181 MAHLE 70.1 Germany Germany automotive Mahle Krotoszyn S. A., Mahle Sp. z o. o. motor vehicles and their engines
26 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) Pol Print Medien publishing and publishing of 182 70.0 Germany Germany Polskapresse Sp. z o. o. (Warsaw) GmbH printing newspapers
manufacture of manufacture of Rigips Austria plaster products Rigips Polska-Stawiany Sp. z o. o. 183 70.0 Austria Austria other non-metal GmbH for construction (Stawiany near Kielce) goods purposes
manufacture Brouwerij Palm of food, drinks 99.7% stake in Browar Belgia Sp. z o. o. 184 70.0 Belgium Belgium production of beer NV and tobacco (Kielce) products
manufacture of manufacture of Whirlpool Whirlpool Polska Sp. z o. o. (Warsaw), 185 70.0 Italy USA machinery and electric domestic Europe Srl Polar S.A. (Wrocław) equipment appliances
Credit Suisse manufacture of First Boston manufacture of 186 70.0 France France ceramic tiles and OPOCZNO S.A. (Opoczno) Ceramic other non-metal flags Partners S.a.r.l. goods
manufacture aluminium Hydro Central of metals and production, Hydro Aluminium Chrzanów Sp. z o. o. 187 69.0 Norway Norway Europe B.V metal products; wholesale of (Chrzanów) wholesale trade chemical products
Heinrich Bauer Verlag publishing and Wydawnictwo Bauer Sp z o. o. 188 69.0 Germany Germany printing Beteiligungs printing (Ciechanów) GmbH
general construction 189 NCC AB 68.6 Sweden Sweden construction NCC Polska Sp. z o. o. (Poznań) of buildings
GTECH business computer and Grytek Sp. z o. o. (Warsaw), 62.8% stake 190 68.0 USA USA Corporation activities related activities in Polcard S.A.
manufacture of Rockwool Polska Sp. z o. o. (Cigacice, production of 191 Rockwool 67.0 Denmark Denmark other non-metal Lubuskie Voivodship), Rockwool insulating materials goods Małkinia Sp. z o. o.
manufacture of manufacture of 192 CNH Global 66.5 USA USA machinery and agricultural and CNH Polska Sp. z o. o. (Płock) equipment forestry machinery
65% stake in Credit Suiss Life and Pensions PTE S.A. (Warsaw), stake in Winterthur financial Credit SuissTowarzystwo Ubezpieczeń 193 65.0 Switzerland Switzerland insurance Insurance intermediation na Życie S.A. (Warsaw), Credit Suisse Life and Pensions Powszechne Towarszystwo Emerytalne S.A.
manufacture Pipelife of metals and manufacture of Pipelife Polska Sp. z o. o. (Karlikowo), 194 Deutschland 65.0 Germany Germany metal products; tubes Mabo Turlen S.A. (Kartoszyno) GmbH wholesale trade
community, IT International social and motion picture Cinema City Poland Sp. z o. o. 195 65.0 Israel Israel Theatres personal activities – 10 multiplex cinemas services
27 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) Fortrade Financing SpA – Fortrade financial Financing Warsaw Sp. z o. o., intermediation, financial leasing, FIM Tower (Warsaw), Fortrade Fortrade manufacture of production of meat Leasing S.A. (Katowice), Zakłady 196 65.0 Italy Italy Financing SPA food products, and poultrymeat Mięsne PFM Stanisławów, “Dolina Łąk” beverages and products Sp. z o. o. (Małaszewicze), “Dolina Łąk – tobacco Dystrybucja” Sp. z o. o. (Małaszewicze, Lubelskie Voivodship), PFM Sochocin
manufacture production Flextronics of electrical of telecom Flextronics International Sp. z o. o. 197 65.0 USA USA International machinery and infrastructure (Tczew) apparatus products
extraction of crude Apache quarrying and 198 65.0 USA USA petroleum and Apache Poland Sp. z o. o. (Warsaw) Corporation minning natural gas
manufacture manufacture of 3M Poland Sp. z o. o. (Kajetany 3M Nederland of chemicals 199 65.0 Netherlands Netherlands pharmaceutical near Warsaw), 3M Poland Sp. z o. o. B.V. and chemical preparations (Wroclaw) products
manufacture Matsushita of electrical manufacture of Matsushita Battery Poland S.A. 200 Electric Europe 63.6 United Kingdom Japan machinery and battery (Gniezno) Ltd apparatus
manufacture of parts manufacture and accesories for Trelleborg Automotive Poland Sp. z o. o. 201 Trelleborg AB 62.9 Sweden Sweden of transport motor vehicles and (Wałbrzych) equipment their engines
manufacture manufacture of of chemicals 202 Beiersdorf AG 62.2 Germany Germany perfumes and toilet Beiersdorf - Lechia S.A. (Poznań) and chemical preparations products
Hohenstaufen manufacture Neunundvierzig- of food, drinks manufacture of 203 62.0 Germany Germany McCain Poland Sp. z o. o. (Strzelin) ste Vermogensver- and tobacco french fries waltungs GmbH products
Stahlschmidt & Maiworm Sp. z o. o. Stahlschmidt & 204 61.6 Germany Germany automotive car parts production (Stalowa Wola), investment in Maiworm Tarnobrzeg SEZ
Skandinaviska 47% stake in Bank Ochrony Środowiska financial 205 Enskilda Banken 61.4 Sweden Sweden banking S.A. (Warsaw), SEB Towarzystwo intermediation (SEB) Funduszy Inwestycyjnych S.A.
Poldanor S.A. (Przechlewo, Pomorskie 206 Polen Invest A/S 60.4 Denmark Denmark agriculture pig breeding Voivodship), Prime Food Sp. z o. o. (Przechlewo)
Kappa Expac Fabryka Tektury i manufacture of manufacture of Opakowań Sp. z o. o. (Pruszcz Gdański), corrugated paper and Kappa pulp and paper, Kappa Expac Fabryka Wyrobów 207 60.2 Netherlands Netherlands paperboard and of Packaging publishing and Papierowych Sp. z o. o. (Dresdenko), containers of paper printing Kappa Expak Konin Sp. z o. o. (Stare and paperboard Miasto)
manufacture of parts Robert Bosch and accessories for Bosch Układy Hamulcowe Sp. z o. o. 208 60.2 Germany Germany automotive GmbH motor vehicles and (Mirków) their engines
28 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) United hotels and hotels and 209 Trusthouse Forte 60.0 United Kingdom Le Royal Meridien Bristol Sp. z o. o. Kingdom restaurants restaurants
DaimlerChrysler Automotive Polska Sp. z o. o. (Warsaw, Sosnowiec), DaimlerChrysler Services (debis) Bank Polska S.A. (Warsaw), DaimlerChrysler Leasing Services Sp. z o. o. (Warsaw), DaimlerChrysler trade and 210 60.0 International Germany trade of vehicles DaimlerChrysler Services Fleet AG repairs Management, DaimlerChrysler Aerospace (Świdnik), EvoBus Polska Sp. z o. o. (Warsaw), Systemy Układu Kierowniczego i Podwozia LSM Sp. z o. o.
manufacture of manufacture paints, varnishes Alcro - Beckers of chemicals Polifarb Becker Dębica S.A., TBD S.A. 211 60.0 Sweden Sweden and similar coatings, AB and chemical (Dębica) printing ink and products mastics
retail sale in non- Ahold Polska Sp. z o. o. (Kraków), specialized stores Ahold Polska Real Estate Sp. z o. o. 212 Royal Ahold N.V. 59.0 Netherlands Netherlands retail trade with food, beverages (Kraków) - Albert supermarket chain, or tobacco Hypernova supermarket chain predominating
manufacture Huhtamaki Van plastic packaging Huhtamaki Polska Sp. z o. o. 213 59.0 Finland Finland of rubber and Leer production (Siemianowice Śląskie) plastics
manufacture of taps and valves, manufacture manufacture of machinery of instruments Danfoss Poland Sp. z o. o. (Warsaw), and equipment; and appliances Zakład Hydrauliki Przemysłowej Pilmet 214 Danfoss A/S 58.7 Denmark Denmark manufacture for measuring, (Wrocław), valve production (Grodzisk of electrical checking, testing, Mazowiecki near Warsaw), Sauer machinery and navigating and other – Danfoss Sp. z o. o. apparatus purposes, except industrial process control equipment
retail sale of furniture, lighting Conforama 215 57.8 France France retail trade equipment and Conforama Polska Sp. z o. o. Holding household articles n.e.c
manufacture Republic of Republic of of food, drinks 48.3% stake in Kompania Piwowarska S.A., 216 SABMiller Plc 57.2 manufacture of beer South Africa South Africa and tobacco 98.8% in Dojlidy Brewery Sp. z o. o. products
Societe financial 217 57.0 France France banking Bank Societe Generale (Warsaw) Generale S.A. intermediation
manufacture Kraft Foods Polska S.A. (Warsaw), 99% of food, drinks manufacture of 218 Kraft Foods AG 57.0 Switzerland Switzerland stake in Olza Sp. z o. o. (Cieszyn), Kraft and tobacco sugar confectionery Polska Sp. z o. o. (Jankowice) products
transport, DHL Worldwide 219 57.0 USA USA storage and postal services DHL International (Poland) Ltd. Network communication
29 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture of United manufacture of 220 Rexam Plc 55.8 United Kingdom other non-metal Rexam Szkło Gostyń S.A. (Gostyń) Kingdom hollow glass goods
transport, 22.5% stake in Polska Telefonia 221 Media One 54.5 Netherlands Netherlands storage and telecommunications Cyfrowa Sp. z o. o. (Warsaw) communication
transport, 22.5% stake in Polska Telefonia 222 DeTeMobil 54.5 Germany Germany storage and telecommunications Cyfrowa Sp. z o. o. (Warsaw) communication
manufacture manufacture Legrand FAEL Sp. z o. o.(Ząbkowice of electrical of electricity 223 Finelectric BV 54.5 Netherlands Netherlands Śląskie), ZNUT FAEL Sp. z o. o., machinery and distribution and ZPEZ Sp. z o. o. (Ząbkowice Śląskie) apparatus control apparatus
99.95% stake in Towarzystwo Inter life insurance, Ubezpieczeniowe Inter Polska S.A. financial 224 Krankenver- 53.9 Germany Germany pension funding, (Warsaw), 80.84% stake in Towarzystwo intermediation sicherung AG non-life insurance Ubezpieczeń na Życie Inter-Życie Polska S.A. (Warsaw)
manufacture Bunge of food, drinks edible oils Zakłady Tłuszczowe Kruszwica S.A. 225 Investment 53.8 France France and tobacco production (Kruszwica) France products
BRC Holding hotels and hotels and 226 53.7 USA USA Radisson SAS Hotels (Warsaw) Developments restaurants restaurants
retail sale in non- REWE 50% stake in Selgros Cash and Carry specialized stores Grossflachen- wholesale and (Poznań and Warsaw) – wholesale 227 53.5 Germany Germany with food, beverages gesellschaft retail trade supermarkets, construction of a or tobacco GmbH supermarket in Długołęka near Wrocław predominating
retail sale in non- 50% stake in Selgros Cash and Carry specialized stores (Poznań and Warsaw) – wholesale FEGRO-Markt wholesale and 228 53.5 Germany Germany with food, beverages supermarkets, construction of GmbH retail trade or tobacco a supermarket in Długołęka near predominating Wrocław
NORD/LB NORDDEUTSCHE financial 229 52.4 Germany Germany banking NORD/LB Bank Polska S.A. LANDESBANK intermediation GIROZENTRALE
retail sale in non- specialized stores 230 E. Leclerc 52.0 France France retail trade with food, beverages supermarkets chain in Poland or tobacco predominating
manufacture of manufacture and pulp and paper, household and Zakład Produkcji Papieru Higienicznego 231 Delfinet B.V. 52.0 Netherlands Netherlands publishing and sanitary goods and “Delittissue” Sp. z o. o. (Ciechanów) printing of toilet requisites
Raben Logistics Sp. z o. o., Raben Transport Sp. z o. o., Raben Polska Raben transport and freight transport by 232 51.6 Netherlands Netherlands Sp. z o. o., Raben Transport Sp. z o. o., Group B.V. storage road Raben Projekt Sp. z o. o., Fresh Logistics Sp. z o. o. (Gądki near Poznań)
30 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture ICN of chemicals manufacture of 233 Pharmaceuticals 51.1 USA USA 80% stake in ICN Polfa - Rzeszów S.A. and chemical pharmaceuticals Inc. products
mining of chemical share in Wrocławskie Kopalnie United mining and 234 Tarmac 50.5 United Kingdom and fertilizer Surowców Mineralnych, Kosmin, Kingdom quarrying minerals Junikon, Libet
manufacture preparation and 235 Sud Wolle AG 50.0 Switzerland Switzerland of fabrics and spinning of woollen- East West Spinning Sp. z o. o. (Łódź) textiles type fibres
Sanitec Koło Sp. z o. o., Laminex (Mińsk manufacture of manufacture of Mazowiecki), Scan Aqua Sp. z o. o. 236 Sanitec Ltd. OY 50.0 Finland Finland other non-metal ceramic sanitary (Łódź), Zakład Wyrobów Sanitarnych goods equipment (Wrocław)
Reform development and 237 50.0 Turkey Turkey real estate Reform Plaza (Warsaw) Company selling of real estate
manufacture Praxair Polska Sp. z o. o. – plants in of chemicals technical gas 238 Praxair Inc. 50.0 USA USA Warsaw, Gliwice, Poznań, Siewierz and and chemical production Wrocław products
Banco Santander financial 239 50.0 Spain Spain banking CC Bank S.A. (Warsaw) Central Hispano intermediation
wholesale of 240 Aventis S.A. 50.0 France International wholesale trade pharmaceutical Aventis Pharma Sp. z o. o. (Warsaw) goods
manufacture of manufacture of other 241 Paroc Group 50.0 Finland Finland other non-metal non-metallic mineral Paroc Polska Sp. z o. o. (Trzemeszno) goods products n.e.c.
general construction construction, of buildings and PARKRIDGE United Parkridge Central Europe Services 242 50.0 United Kingdom real estate civil engineering HOLDINGS Kingdom Sp. z o. o. (Warsaw) and business works; letting of activities own property
manufacture Gerber Finance of food, drinks manufacture of fruit 243 50.0 USA USA Alima Gerber S.A. (Rzeszów, Warsaw) Company and tobacco and vegetable juice products
EMPiK Sp. z o. o. (Warsaw), 92.6% EMPiK Centrum other retail sale in 244 49.2 Luxembourg Luxembourg retail trade stake in Domy Towarowe Centrum S.A. Investments S.A. specialized stores (Warsaw)
manufacture of David S Smith pulp and paper, paper packaging 98% stake in DS Smith Polska S.A. 245 48.3 Netherlands Netherlands Netherlands B.V. publishing and production (Kielce) printing
Provimi Polska Holding Sp. z o. o. manufacture manufacture of Osnowo - 6 companies in Poland Provimi of food, drinks 246 48.0 Netherlands Netherlands prepared feeds for (Osnowo, Białystok, Dobrzelin, Jarosław, Holding BV and tobacco farm animals Olsztynek, Tworóg) - fodder production, products 60% of shares of Rolimpex S.A
manufacture of manufacture of 247 Veka AG 48.0 Germany Germany other non-metal builders’ ware of Veka Polska Sp. z o. o. (Skierniewice) goods plastic
31 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture McLane processing and of food, drinks 248 International 47.0 USA USA preserving of fish McLane Polska Sp. z o. o. (Błonie) and tobacco Inc. and fish products products
manufacture of potato processing food, beverages Farm Frites Poland S.A.(Lębork), Farm plant and 249 CEPV 47.0 Netherlands Netherlands and tobacco Frites Poland Dwa Sp. z o. o. (Wielka agricultural products; Wieś) production agriculture
manufacture washing powder PZ Cussons Polska S.A. (Wrocław), Cussons Group United of chemicals production, 250 46.8 United Kingdom 75% of shares of Fabryka Kosmetyków Ltd. Kingdom and chemical cosmetics Pollena – Uroda S.A. (Warsaw) products manufacturer
Visteon car components Visteon Poland S.A. (Praszka), Polmot 251 Automotive 46.0 USA USA automotive production ZEM (Duszniki) Systems
manufacture of food, drinks 252 Smithfield Foods 46.0 USA USA meat processing Animex S.A., SF Holding (Warsaw) and tobacco products
activities of travel transport, agencies and tour Fritidsresor 253 46.0 Sweden Sweden storage and operators; tourist Scan Holiday Travel Sp. z o. o. (Poznań) Holding AB communication assistance activities n.e.c.
West financial Westdeutsche Landesbank Polska S.A. 254 Landesbank AG 45.9 Germany Germany banking intermediation (Warsaw, Poznań, Katowice) (WestLB AG)
manufacture Lek Polska Sp. z o. o (Pruszków), of chemicals manufacture of 255 Lek d.d. 45.3 Slovenia Slovenia Lek S.A. - factory in Stryków, Zaklad and chemical pharmaceuticals Farmaceutyczny ARGON S.A. (Łódź) products
Sheraton hotels and hotels and Sheraton Warsaw Hotel Sp. z o. o. 256 Warsaw 45.0 USA USA restaurants restaurants (Warsaw) Cooperation
manufacture SCA Hygiene of chemicals personal hygiene 257 Products 45.0 Germany Germany SCA Hygiene Poland Sp. z o. o. (Oława) and chemical goods production Holding GmbH products
manufacture of production of 55% of shares of Cementownia Nowa 258 Rumeli Group 45.0 Turkey Turkey other non-metal cement Huta S.A. (Kraków) goods
MAN wholesale and MAN Pojazdy Użytkowe Polska Sp. z o. o., distribution of 259 Nutzfahrzeuge 45.0 Germany Germany retail trade; Star Trucks Sp. z o. o. (Starachowice), vehicles AG automotive Man Star Truck Sp. z o. o.
manufacture manufacture of of chemicals Kosmepol L’Oreal Sp. z o. o. (Kanie), 260 L’Oreal SA 45.0 France France perfumes and toilet and chemical L’Oreal Polska Sp. z o. o. (Warsaw) preparations products
Europa transport, United cargo handling and 261 Distribution 45.0 United Kingdom storage and Europa Park (Mszczonów near Warsaw) Kingdom storage Center communication
hotels and hotels and Cosmar Polska Sp. z o. o. (Hyatt 262 Cosmar S. r. l. 45.0 Italy Italy restaurants restaurants Regency Warsaw Hotel)
32 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) Nationwide financial Nationwide Towarzystwo Ubezpieczeń 263 Global Holdings 44.7 USA USA life insurance intermediation na Życie S.A. (Warsaw) Inc
MVV Polska Sp. z o. o. (Warsaw), MVV Energie power, gas and steam and hot water MVV EPS Polska Sp. z o. o., 264 44.6 Germany Germany AG water supply supply MVV Skarżysko-Kamienna, Szczecińska Energetyka Cieplna Sp. z o. o. (Szczecin)
EnBW Energie 33.1% stake in Miejskie municipal steam and hot water 265 Baden- 44.5 Germany Germany Przedsiębiorstwo Energetyki Cieplnej services supply Würtenberg AG Wrocław S.A. (Wrocław)
manufacture of XELLA beton komórkowy Polska Xella Porenbeton manufacture of 266 44.4 International Germany other non-metal Sp. z o. o. – cement aggregates plant in Holding GmbH cement goods Szczecin, plant in Ostrołęka
manufacture of food, drinks production of ice Schoeller Polska Sp. z o. o. (Warsaw), 267 Schoeller 43.0 Germany Germany and tobacco cream plant in Namysłów products
manufacture of manufacture and Kimberly-Clark Poland Holdings Kimberly Clark pulp and paper, household and 268 42.7 USA USA Sp. z o. o. (Warsaw), 99.5% stake Worldwide ING publishing and sanitary goods and in Kimberly-Clark S.A. (Klucze) printing of toilet requisites
Teksid manufacture Aluminium casting of light Teksid Aluminium Poland Sp. z o. o. 269 42.7 Luxembourg Italy of metals and Luxembourg metals (Bielsko-Biała) metal products S.a.r.l. S.C.A.
manufacture of Robert Bosch manufacture of Robert Bosch Sp. z o. o. (Warsaw), bearings, gears, 270 Investment 42.0 Netherlands Netherlands machinery and Bosch Rexroth Sp. z o. o. (Pruszków), gearing and driving Nederland B.V. equipment Bosch Security (Warsaw) elements
manufacture of production of Royal Group 271 41.0 Canada Canada other non-metal prefabricated Royal Europa Sp. z o. o. (Polkowice) Technologies goods buildings
trade and wholesale of metals 32.13 % of shares of Howell S.A. 272 ASOBO BV 40.9 Netherlands Netherlands repairs and metal ores (Szczawno Zdrój)
transport, National United Energis Polska Sp. z o. o., Cel Polska 273 40.8 United Kingdom storage and communication Grid Plc Kingdom Sp. z o. o., Telrise Sp. z o. o. communication
manufacture HJ Heinz of food, drinks fruit and vegetables 274 40.8 USA USA Pudliszki S.A. (Pudliszki) Company and tobacco processing products
manufacture Pfeifer und Langen Marketing Sp. z o. o. Pfeifer und of food, drinks manufacture of 275 40.6 Germany Germany – plants in Środa Wlkp., Kościan, Langen and tobacco sugar Gostyń and Miejska Górka products
manufacture of manufacture pharmaceuticals, 16.5% stake in Laboratorium of chemicals 276 Robert Lewis 40.0 USA USA medicinal chemicals Frakcjonowania Osocza (EURO-PARK and chemical and botanical Mielec SEZ) products products
manufacture of Optiroc Sp. z o. o. (Warsaw), Optiroc Optiroc manufacture of 277 40.0 Sweden Sweden other non-metal Gniew Sp. z o. o. (Gniew), factory in Group AG glues and gelatines goods Góra Kalwaria and Szczecin
33 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) wholesale of OBI Centrala Systemowa Sp. z o. OBI wood, construction o. (Warsaw), Superhobby Market 278 Heimwerker- 40.0 Germany Germany retail trade materials and Budowlany Sp. z o. o., Superhobby Dom markt AG sanitary equipment i Ogród Sp. z o. o. - hypermarket chain
GTC development and 279 40.0 Netherlands Netherlands real estate Globe Trade Centre S.A. (Warsaw) International selling of real estate
Energie Baden- production and power, gas and 16.6% stake in Elektrownia Rybnik S.A. 280 Württemberg 40.0 Germany Germany distribution of water supply (Rybnik) AG (EnBW) electricity
International transport, Container Bałtycki Kontenerowy Terminal BTC 281 40.0 Philipines Philipines storage and sea transport Terminal Sp. z o. o. communication Services
manufacture of Atlas Neeif United manufacture of 90.17% stake in Cementownia Chełm S.A. 282 39.2 Cyprus other non-metal Holdings Ltd. Kingdom cement (Chełm) goods
Roeben manufacture of manufacture of Roeben-Ceramika Budowlana Sp. z o. o. 283 Tanbaustaffe 38.0 Germany Germany other non-metal bricks, roofing tiles (Środa Śląska) GmbH goods
manufacture 63% stake in Grodziskie Zakłady Gedeon of chemicals manufacture of 284 38.0 Hungary Hungary Farmaceutyczne Polfa Sp. z o. o. Ritcher LTD and chemical pharmaceuticals (Grodzisk Mazowiecki) products
99% stake in Wavin Metalplast – Buk Sp. z o. o. (Poznań), Ekoplastik-Polska manufacture manufacture of Nordisk Sp. z o. o. (Opole), Wavin Eksport 285 37.3 Denmark Netherlands of rubber and builders’ ware of Wavin A/S Sp. z o. o. (Buk, Wielkopolskie plastics plastic Voivodeship), Wavin East Sp. z o. o. (Buk)
manufacture manufacture of Marflex - M. J. Maillis Group Sp. z o. o. 286 M. J. Maillis 37.0 Greece Greece of rubber and plastic packing (Karczew) plastics goods
manufacture manufacture of Hiestand Polska Sp. z o. o. (Grodzisk Hiestand of food, drinks bread; manufacture 287 37.0 Switzerland Switzerland Mazowiecki), Hiestand Sp. z o. o. Holding AG and tobacco of fresh pastry goods (Kraków) products and cakes
manufacture of corrugated paper and manufacture of paperboard and of pulp and paper, 288 Esselte AB 36.1 Sweden USA containers of paper Esselte Polska Sp. z o. o. (Kozienice) publishing and and paperboard, printing manufacture of paper stationery
wholesale of food, Interkontakt Czech wholesale and 66% stake in Polski Handel 289 36.0 Czech Republic beverages and Group A.S. Republic retail trade Spożywczy S.A. (Warsaw) tobacco
Same Deutz Fahr manufacture of manufacture of Same Duetz-Fahr Polska Sp. z o. o. 290 Holding and 36.0 Netherlands Italy machinery and agricultural tractors (Mełgiew) Finance BV equipment
production and power, gas and 74.43% stake in Elektrownia Skawina 291 PSEG Global 36.0 USA USA distribution of water supply (Skawina) electricity
34 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture of parts manufacture Tenneco Automotive Polska Sp. z o. o. Tenneco Global and accesories for 292 36.0 USA USA of transport (Warsaw), factories in Rybnik and Holding Inc motor vehicles and equipment Gliwice their engines
manufacture of manufacture and Metsa Tissue S.A. (Konstancin Metsa Tissue pulp and paper, household and 293 35.4 Finland Finland -Jeziorna), Zakłady Papiernicze OYJ publishing and sanitary goods and w Krapkowicach S.A. printing of toilet requisites
manufacture Tchibo Frisch of food, drinks 294 Rost Kaffee 35.0 Germany Germany processing of coffee Tchibo Warszawa Sp. z o. o. (Marki) and tobacco GmbH products
manufacture of chemicals manufacture of Oriflame Poland Sp. z o. o., Oriflame 295 Oriflame 35.0 Sweden Sweden and chemical cosmetics Products Poland Sp. z o. o. (Warsaw) products
Axel Springer Polska Sp. z o. o. – publisher of magazines: Pani Domu, Axel publishing and publishing of 296 35.0 Germany Germany Auto Świat, Na Żywo, Plus, Olivia, Springer AG printing magazines Cienie i Blaski, Sekrety Serca, Komputer Świat
manufacture of chemicals, manufacture of Republic Republic chemical 63.9% stake in SK Eurochem Sp. z o. o. 297 SK Chemicals 35.0 plastics in primary of Korea of Korea products and (Włocławek) forms man-made fibres
Gillette Poland S.A. (Warsaw), manufacture razor production, Gillette Wizamet S.A. (Łódź), Gillette Poland 298 33.9 USA USA of consumer distribution of Corporation International Sp. z o. o. (new manufactruing products toiletries facility under construction in Łódź)
manufacture of food, drinks manufacture of 85% stake in Lubuska Wytwórnia Wódek 299 Vin & Spirit AB 33.7 Sweden Sweden and tobacco vodka Gatunkowych Polmos (Zielona Góra) products
Federal Mogul manufacture of parts manufacture Holding and accesories for 92.54% stake in Federal-Mogul 300 33.7 Germany Germany of transport Deutschland motor vehicles and Gorzyce S.A. (Gorzyce) equipment GmbH their engines
58% stake in Towarzystwo Ubezpieczeń financial na Życie Compensa S.A., 74% stake in 301 HUK Coburg 33.3 Germany Germany life pension intermediation Towarzystwo Ubezpieczeń Compensa S.A.
manufacture Altana of chemicals manufacture of Altana Pharma Sp. z o. o. (Warsaw), ZS 302 33.3 Germany Germany Pharma AG and chemical pharmaceuticals Altana Pharma Sp. z o. o. (Łyszkowice) products
manufacture 75.52% stake in NKT Cables S.A. manufacture of of electrical (Czechowice-Dziedzice), NKT Cables 303 NKT Cables A/S 32.7 Denmark Denmark insulated wire and machinery and Warszowice Sp. z o. o., Polinex cable apparatus Sp. z o. o. (Knurów)
transport, 99.94% stake in Telefony Rzeszowskie 304 EMERITA B.V. 32.6 Netherlands Netherlands storage and telecommunications TELER S.A. (Mielec) communication
35 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture of parts manufacture WABCO and accesories for 99.8% stake in Wabco Polska Sp. z o. o. 305 32.6 Netherlands USA of transport Europe B.V. motor vehicles and (Wrocław) equipment their engines
retail sale in non- Plus specialized stores Warenhandels trade and Plus Discount (Kraków) - network of 306 32.4 Germany Germany with food, beverages Gesellschaft repairs hypermarkets or tobacco GmbH predominating
70% stake in Sydkraft Złotów Sp. z o. o. (Złotów), 100% stake in Energetyka Cieplna Sp. z o. o. (Czeladź), 100% stake power, gas and steam and hot water 307 Sydkraft AB 31.7 Sweden Sweden in Sydkraft Poznań Sp. z o. o., 23.2% water supply supply stake in Ostrowski Zakład Ciepłowniczy, 51% stake in Słupska Energetyka Cieplna
production and power, gas and 308 Elsam A/S 31.2 Denmark Denmark distribution of Wolin North Sp. z o. o. (Szczecin) water supply electricity
financial 309 Dresdner Bank 31.2 Germany Germany banking Dresdner Bank Polska S.A. intermediation
capital investment in Italian joint financial 310 Simest 31.0 Italy Italy capital investment ventures operating in industry, minority intermediation block of shares of Fiat Auto Poland
transport, scheduled air 76% stake in EADS PZL “Warszawa 311 EADS CASA 31.0 Spain Spain storage and transport Okęcie” S.A. (Warsaw) communication
Bank of Tokyo - financial Bank of Tokyo – Mitsubishi S.A. 312 30.3 Netherlands Japan banking Mitsubishi N.V. intermediation (Warsaw)
manufacture of Zakłady Wyrobów Sanitarnych ROCA production of 313 30.2 Spain Spain other non-metal SILESIA Sp. z o. o. (Gliwice), Radiadores sanitary equipment goods Roca Polska Sp. z o. o. (Gliwice)
sale, maintenance and repair of Nijhof – Wassink Sp. z o. o. (Kutno), wholesale and motor vehicles and 314 Nijhof Wassink 30.0 Netherlands Netherlands Volvo Truck dealer (Nowa Wieś Wielka, retail trade motorcycles; retail Tarnowo Podgórne, Rzgów) sale of automotive fuel
manufacture of Koramic manufacture of bricks, tiles and Wiekor Pokrycia Dachowe Sp. z o. o. 315 Building 30.0 Belgium Belgium other non-metal construction (Kunice) Products N.V. goods products, in baked clay
community, social and motion picture 316 Kinepolis Group 30.0 Belgium Belgium Kinepolis Polska Sp. z o. o. (Poznań) personal projection services
manufacture of manufacture of Aktiebolaget bearings, gears, 317 30.0 Sweden Sweden machinery and SKF Poznań S.A. (Poznań) SKF gearing and driving equipment elements
36 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) Falck Polska Sp. z o. o., Falck Ochrona Sp. z o. o. (Warsaw), Ratownictwo Falck Group 4 business investigation and Sp. z o. o. (Szczecin), Karderos 318 30.0 Denmark Denmark Falck A/S activities security activities Sp. z o. o. (Kraków), BWR Serwis Sp. z o. o. (Kraków), Sekuritas Sp. z o. o. (Zielona Góra)
manufacture manufacture of other Hutchinson Poland Sp. z o. o. - two 319 Hutchinson S.A. 30.0 France France of rubber and rubber products factories in Żywiec, factory in Łódź plastics
manufacture Millenium of food, drinks production of 320 29.5 USA USA Polmos Żyrardów Sp. z o. o. (Żyrardów) Import LLC and tobacco alcoholic beverages products
manufacture manufacture of other 321 Lee Bell Inc. 29.4 USA USA of fabrics and VF Polska Sp. z o. o. (Łódź) outerwear textiles
Deutsche Zentral Genossen- financial 97.43% of shares of DZ Bank Polska 322 28.6 Germany Germany banking schaftsbank intermediation S.A. (Warsaw) AG (DG Bank)
manufacture manufacture of medical and Sonion of electrical 323 28.1 Denmark Denmark surgical equipment Sonion Polska Sp. z o. o. (Mierzyn) Mictrotronic A/S machinery and and orthopaedic apparatus appliances
trade and wholesale of Novartis Poland Sp. z o. o. (Warsaw), 324 Novartis AG 28.1 Switzerland Switzerland repairs pharmaceutical goods Alima - Gerber S.A. (Rzeszów)
UCI Multiplex media and motion picture Multikino Sp. z o. o. (M. Investments), 325 28.0 Netherlands Netherlands BV entertainment projection Warsaw and Poznań
Polimeni development and Polimeni International Konin Sp. z o. o. 326 28.0 USA USA real estate International selling of real estate (Sopot)
transport, 327 PENNECOM 28.0 Netherlands Netherlands storage and telecommunications Pilicka Telefonia S.A. (Radom) communication
manufacture of food, drinks 328 Dossche 28.0 Belgium Belgium fodder production Dossche Sp. z o. o. (Kalisz) and tobacco products
Prudential financial Prudential Towarzystwo Ubezpieczeń na 329 Insurance Co. of 28.0 USA USA life insurance intermediation Życie S.A. America
manufacture Zott GmbH&Co of food, drinks manufacture of dairy 330 27.5 Germany Germany Zott Polska Sp. z o. o. (Opole) KG and tobacco products products
other REMONDIS community, sewage and refuse 331 International 27.4 Germany Germany social and disposal, sanitation Remondis Sp. z o. o. (Warsaw) GmbH personal service and similar activities activities
CEDC (Central Carey Agri International Poland Sp. z o. o. import and European (Warsaw), PWW Sp. z o. o. (Warsaw), 332 27.3 USA USA wholesale trade distribution of Distribution MTC Sp. z o. o. (Białystok), alcoholic beverages Corporation) PHA Sp. z o. o. (Zielona Góra)
37 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) Office Depot Wszystko Dla Biura Retail other retail sale in Potamkin International Polska 333 Investment 27.0 USA USA retail trade specialized stores Sp. z o. o. (Janki near Warsaw, Gdańsk Concepts, Inc. and Kraków)
manufacture of manufacture paints, varnishes of chemicals 66.7% stake in Polifarb 334 Kalon Group BV 27.0 Netherlands Netherlands and similar coatings, and chemical Cieszyn-Wrocław S.A. (Wrocław) printing ink and products mastics
manufacture Leaf Poland Sp. z o. o. (Warsaw), of food, drinks manufacture of 335 CSM NV 27.0 Netherlands Netherlands chewing gum factory (Legionowo near and tobacco sugar confectionery Warsaw) products
manufacture manufacture of other 336 Mecalux SA 27.0 Spain Spain of metals and fabricated metal Mecalux Polska Sp. z o. o. (Gliwice) metal products products n.e.c.
FM Logistic Sp. z o. o. (Mszczonów), Faure Machet transport, FM Silesia Sp. z o. o. (Tychy), freight transport by 337 (FM) Logistic 26.6 France France storage and FM Mazovia Sp. z o. o. (Tomaszów road S.A. communication Mazowiecki), FM Jarosty Sp. z o. o. (Piotrków Trybunalski)
manufacture of PZM Leier Wytwórnia Materiałów manufacture of bricks, tiles and Budowlanych (Malbork), Leier 338 Michael Leier 26.4 Austria Austria other non-metal construction Tarnowskie Zakłady Ceramiki goods products, in baked Budowlanej S.A. (Wola Rzędzińska) clay
part of DPTG (Danish Polish Telecommunications Group), investment transport, in fibre optic pipe-line worth USD 339 GN Great Nordic 26.3 Denmark Denmark storage and telecommunications 20 million completed together with communication Tele Danmark Internationale AS and Telekomunikacja Polska S.A.
manufacture Cukier Małopolski S.A., Cukrownia of food, drinks Strzyżów S.A. (Lubelskie Voivodship), 340 Sudzucker AG 26.2 Germany Germany sugar production and tobacco Cukrownia Ropczyce S.A. (Podkarpackie products Voivodship)
manufacture Eurofoam Polska Sp. z o. o. (Zgierz, Austria/ of chemicals manufacture of Poznań, Gdańsk), Kerko Sp. z o. o. 341 Eurofoam B.V. 26.2 Netherlands Belgium and chemical polymer foam (Rzeszów), Caria Sp. z o. o. (Kalwaria products Zebrzydowska)
manufacture of parts M. Kutsch manufacture and accesories for Kirchhoff Polska Sp. z o. o. 342 Projectgesellschaft 25.8 Germany Germany of transport motor vehicles and (SEZ Mielec) GmbH equipment their engines
wholesale of 343 Bayer AG 25.4 Germany Germany retail trade pharmaceutical Bayer Sp. z o. o. (Warsaw) goods
Am-Rest Holding hotels and American Restaurant Sp. z o. o. 344 25.0 Netherlands USA restaurants N.V. restaurants (Wrocław) (Pizza Hut & KFC brands)
general construction GD Poland Distribution Sino Frontier of buildings and 345 25.0 China China construction Centre Sp. z o. o. (Wólka Kosowska near Properties Ltd. civil engineering Warsaw) works
38 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) construction, general construction Wiśniowy Business Park (Warsaw) Lend Lease real estate of buildings and 346 25.0 Australia Australia together with an American developer Central Europe and business civil engineering Chelverton Properties activities works
manufacture production and of food, drinks 347 L.D.C. S.A. 25.0 France France preserving of 98.9% stake in Drosed S.A. (Siedlce) and tobacco poultrymeat products
manufacture of Kurt H. manufacture pulp and paper, 348 Schumacher 25.0 Germany Germany of paper and Tektura Wrocław Sp. z o. o. (Krępice) publishing and A.G. paperboard printing
manufacture of food, drinks manufacture of dairy Hochland Polska Sp. z o. o. (Kazimierz 349 Hochland AG 25.0 Germany Germany and tobacco products Wielkopolski) products
construction, general construction Wiśniowy Business Park (Warsaw) Chelverton real estate of buildings and 350 25.0 USA USA together with an Australian developer Properties and business civil engineering Lend Lease Central Europe activities works
business renting of other Arval Service Lease Polska Sp. z o. o. 351 Arval PHH 25.0 France France activities transport equipment (Warsaw)
manufacture of chemicals pharmaceuticals 352 KRKA 25.0 Slovenia Slovenia KRKA Polska Sp. z o. o. (Warsaw) and chemical production products
mining and quarrying; 99.9% stake in Kopalnia i Zakład Quarzwerke other mining and 353 25.0 Germany Germany manufacture of Przeróbczy Piasków Szklarskich GmbH quarrying n.e.c other non-metal “Osiecznica” Sp. z o. o. (Osiecznica) goods
Viterra Energy distribution of Viterra Energy Services Sp. z o. o. 354 24.6 Germany Germany wholesale trade Services AG building materials (Warsaw)
98.2% stake in Nordea Polska life insurance, Tryg-Baltica A/S financial Towarzystwo Ubezpieczeń na Życie S.A. 355 24.4 Denmark Denmark pension funding, (Nordea Group) intermediation (Warsaw), Tryg Polska Towarzystwo non-life insurance Ubezpieczeniowe S.A. (Radom)
manufacture of Exide accumulators, 356 24.4 USA USA automotive 96.8% stake in Centra S.A. (Poznań) Technologies primary cells and primary batteries
International collection, Water United The United power, gas and 357 24.4 Netherlands purification and 33.2% stake in Aqua S.A (Bielsko–Biała) Utilities Holding Kingdom water supply distribution of water BV
other construction 49% of shares of Mostostal 358 ACCIONA 24.4 Spain Spain construction work involving Warszawa S.A. (Warsaw) special trades
31.6% stake in Cardif Polska S.A. life insurance, financial (Warsaw), 33% stake in Pocztylion-Arka 359 Cardif S.A. 24.0 France France pension funding, intermediation Powszechne Towarzystwo non-life insurance Emerytalne S.A. (Warsaw)
39 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) CPIG (Chicago manufacture Poland of food, drinks Browar Namysłów Sp. z o. o. 360 24.0 USA USA manufacture of beer Investment and tobacco (Namysłów) Group) LLC products
manufacture manufacture of Frankische Rehau Sp. z o. o. (Przeźmierowo, 361 23.6 Germany Germany of rubber and builders’ ware of Plastiks GmbH Poznań, Katowice, Śrem, Warsaw) plastics plastic
manufacture manufacture of other Levi Strauss Poland Ltd. (Warsaw) 362 Levi Strauss 23.2 Netherlands Netherlands of fabrics and outerwear – factory in Płock textiles
manufacture Barry Callebaut of food, drinks manufacture of 363 23.1 France France Barry Callebaut Sp. z o. o. (Łódź) France S.A. and tobacco cocoa products
The Gates manufacture manufacture of other 67.67% stake in Gates Polska Sp. z o. o. 364 Corporation 23.0 USA USA of rubber and rubber products (Legnica) Denver plastics
agents involved in Glencore trade and the sale of fuels, Glencore Polska Sp. z o. o. (Jaśkowa 365 22.5 Switzerland Switzerland International AG repairs ores, metals and Dolina) industrial chemicals
manufacture of chemicals technical gas AGA Gaz Sp. z o. o. (Warsaw) - Polgaz 366 AGA AB 22.4 Sweden Sweden and chemical production Kościan, Wielkopolskie Voivodship products
Qubus Hotel Management (Zielona Qubus Hotel hotels and hotels with Góra), Qubus Hotel (Gliwice, Gorzów 367 22.3 Norway Norway System restaurants restaurant Wikp., Głogów. Legnica, Wałbrzych, Wrocław, Zielona Góra, Złotoryja)
manufacture manufacture of other 90% of shares of Bombardier Bombardier 368 22.0 Canada Canada of transport transport equipment Transportation Polska Sp. z o. o. Transportation equipment n.e.c. (Wrocław, Katowice)
Ahlers Poland Sp. z o. o., Pioneer Jeans manufacture Poland (Opole), Bielkon Sp. z o. o. manufacture of underwear, (Bielsko-Biała), 51% stake in LUBINEX 369 Ahlers AG 22.0 Germany Germany of fabrics and manufacture of other Sp. z o. o. (Lubin), 99% stake in Romero textiles outerwear Sp. z o. o. (Zbąszyń), Textil Service Sp. z o. o.
retail sale of Rossmann Ost Rossmann Supermarkety Drogeryjne 370 22.0 Netherlands Germany retail trade cosmetic and toilet Europe BV Polska Sp. z o. o. (Łódź) articles
Rabobank financial 371 International 21.4 Netherlands Netherlands banking Rabobank Polska S.A. (Warsaw) intermediation Holding BV
manufacture of manufacture of bricks, tiles and United Hanson Polska Elewacje Sp. z o. o. 372 Hanson AK i BV 21.3 United Kingdom other non-metal construction Kingdom (Jankowa Żagańska) goods products, in baked clay
Unisys trade and other retail sale in 373 21.0 USA USA Unisys Polska Sp. z o. o. (Warsaw) Corporation repairs specialized stores
40 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) general construction Hochtief AG (Warsaw), 43.7% stake in of buildings and Przedsiębiorstwo Instalacji Sanitarnych 374 Hochtief AG 20.8 Germany Germany construction civil engineering Cracovia S.A. (Kraków), 95% stake in works Poz-Building (Poznań)
Centro financial 25% of shares of Raiffeisen Centrobank S.A. 375 Internationale 20.6 Austria Austria banking intermediation (Warsaw) Handelsbank AG
manufacture manufacture Pratt & Whitney Kalisz Sp. z o. o. Pratt & Whitney 376 20.0 Canada Canada of transport of aircraft and (Kalisz), Aerotech Kalisz Sp. z o. o. Canada equipment spacecraft (Kalisz)
general construction office buildings and hotels, Warimpex - of buildings and Leasing j.v., Warimpex - Handels, Amber 377 Warimpex 20.0 Austria Austria construction civil engineering Baltic, City Shopping Centre, total value works of projects c.a. USD 100 million
Porr Porr Polska S.A. and Porr International hotels with 378 International/ 20.0 Austria Austria hotels and AG (Warsaw), Chopin Sp. z o. o. restaurant Chopin restaurants (Kraków)
News business 379 20.0 USA USA advertising activity Town & City – outdoor advertisements Corporation activities
Min Hoong hotels and hotels and motels, Min Hoong Development Co. Pte. Ltd. 380 20.0 China China Development Co. restaurants with restaurant Poland Sp. z o. o. (Sopot)
Millward Brown United business 381 20.0 United Kingdom market research SMG/KRC Poland Media S.A. (Warsaw) Group Kingdom activities
manufacture Ludwig of food, drinks manufacture of Ludwig Czekolada Sp. z o. o. (Tuczno, 382 20.0 Germany Germany Schockolade and tobacco chocolate Wielkopolskie Voivodship) products
12.5% of shares of Techmex S.A. European financial (Bielsko-Biała), 24% stake in Alpinus, 383 Renaissance 20.0 USA USA capital investment intermediation investments in construction and Capital L.P. telecommunications
manufacture of manufacture of DeLaval machinery for DeLaval Sp. z o. o., Delaval Operations 384 20.0 Sweden Sweden machinery and Holding AB food, beverage and Sp. z o. o. (Wrocław) equipment tobacco processing
manufacture of manufacture Greenbrier railway and tramway 98.3% stake in Wagony Świdnica S.A. 385 20.0 Netherlands USA of transport Europe B.V. locomotives and (Świdnica) equipment rolling stock
manufacture of chemicals manufacture of 386 Hexal AG 20.0 Germany Germany Hexal Polska Sp. z o. o. (Warsaw) and chemical pharmaceuticals products
manufacture casting of light Sapa Poland Ltd. (Trzcianka Lubuska, 387 Granges A.B. 19.8 Sweden Sweden of metals and metals Wielkopolskie Voivodship) metal products
Repono financial Z. U. Garda Life S.A. (Warsaw), TUiR 388 19.6 Netherlands Netherlands life insurance Holding BV intermediation Partner S.A. (Warsaw)
Industrie Maurizio Peruzzo Comfort Ovattificio manufacture manufacture of Sp. z o. o. (Bielsko-Biała), Industrie 389 Resinatura 19.2 Italy Italy of fabrics and carpets and rugs Maurizio Peruzzo Comfort Sp. z o. o. Valpadana S.P.A. textiles (Świdnica)
41 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture manufacture of Germany/ Uponor Polska Sp. z o. o. (Warsaw), 390 Uponor Group 19.0 Germany of rubber and plastic plates, sheets, Finland Uponor-Bor Sp. z o. o. (Sochaczew) plastics tubes and profiles
manufacture Windjammer of food, drinks “LECH Browary Wielkopolski” S.A. 391 19.0 Netherlands Netherlands beer producing Investments B.V. and tobacco – Kompania Piwowarska (Poznań) products
manufacture manufacture of Podravka Polska Sp. z o. o (Kostrzyn), of food, drinks 392 Podravka d.d. 19.0 Croatia Croatia condiments and Podravka International Export-Import and tobacco seasonings Sp. z o. o. (Warsaw) products
Nykredit financial other monetary Nykredit Bank Hipoteczny S.A. 393 19.0 Denmark Denmark Realkredit A/S intermediation intermediation (Warsaw)
manufacture Gallaher Polska Sp. z o. o. (Warsaw) Gallaher United of food, drinks manufacture of 394 19.0 United Kingdom – factory in Gostkowice, Łódzkie Group Plc Kingdom and tobacco tobacco products Voivodeship products
manufacture manufacture of basic Sanofi- of chemicals Sanofi-Synthelabo Sp. z o. o. (Warsaw), 395 18.8 France France pharmaceutical Synthelabo S.A. and chemical factory in Rzeszów products products
Kimball manufacture manufacture of Electronics of electrical electrical equipment Kimball Electronics Poland Sp. z o. o. 396 18.7 USA USA Manufacturing machinery and for engines and (Poznań) Inc apparatus vehicles n.e.c.
retail sale in non- specialized stores 60% stake in Eurocash Sp. z o. o. 397 Politra BU 18.6 Netherlands Netherlands wholesale trade with food, beverages (Poznań) or tobacco predominating
demolition and Bilfinger und wrecking of 398 18.5 Germany Germany construction stake in Hydrobudowa-6 S.A. (Warsaw) Berger Bau AG buildings; earth moving
98.53% stake in Messer Polska Sp. z o. o. manufacture (Chorzów), branch offices in Warsaw, Messer of chemicals manufacture of Poznań, Środa Śląska, Police, 399 Griesheim 18.4 Germany Germany and chemical technical gas Kędzierzyn Koźle. Plants in Chorzów, GmbH products Kędzierzyn Koźle, Police and Środa Śląska
manufacture 70% stake in Fabryka Wódek Gdańskich of food, drinks manufacture of w Starogardzie Gdańskim S.A. 400 Belvedere S.A. 18.3 France France and tobacco vodka (Starogard Gdański), stake in Krakowska products Destylarnia Polmos S.A. (Kraków)
manufacture of manufacture of NGK Ceramics Polska Sp. z o. o. 401 NGK Insulators 18.3 Japan Japan other non-metal catalyzers (Gliwice) goods
Berger manufacture Breitgewebe other textile 402 18.3 Germany Germany of fabrics and Berger Sp. z o. o. (Częstochowa) International weaving textiles GmbH
safety components Takata Petri Sp. z o. o. (Wałbrzych SEZ), and products: 403 Takata Petri AG 18.3 Germany Japan automotive Takata Petri Parts Polska Sp. z o. o. airbags, seat belts, (Krzeszow) child seats
42 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) transport, Maersk Logistic Polska Sp. z o. o. 404 Maersk 18.0 International International storage and logistic activity (Mszczonów near Warsaw), Maersk communication Polska (Warsaw)
Invesco Polska, Invesco Services, Invesco TFI S.A. (Warsaw), Poczta financial 405 Amvescap Plc 18.0 United Kingdom USA banking, insurance Polska-Cardiff (Grupa BNP Paribas) intermediation Arka Invesco Powszechne Towarzystwo Emerytalne S.A. (Warsaw)
manufacture of parts Sanden and accessories for Sanden Manufacturing Poland Sp. z o. o. 406 18.0 Japan Japan automotive Corporation motor vehicles and (Polkowice, Dolnośląskie Voivodeship) their engines
Union Czech financial 84.27% stake in Bank Przemysłowy S.A. 407 17.8 Czech Republic banking Group A.S. Republic intermediation (Łódź)
manufacture of stake in Lhoist - Bukowa Sp. z o. o. 408 Lhoist 17.7 Belgium Belgium other non-metal manufacture of lime (Bukowa, Świętokrzyskie Voiovdeship) goods
Rheinisch Bergische publishing and publishing of 409 17.6 Germany Germany Express Media Sp. z o. o. (Bydgoszcz) Verlagsgesells- printing newspapers chaft GmbH
manufacture Foster Wheeler Energia Polska Sp. z o. o. Foster Wheeler manufacture of 410 17.6 Netherlands Netherlands of metals and (Warsaw), Foster Wheeler Energy Europa B.V. steam generators metal products Fakop Sp. z o. o. ( Sosnowiec)
Wincanton transport, Wincanton Trans European European activities of other 411 17.6 Netherlands Netherlands storage and Polska Sp. z o. o. (Piaseczno near Transport transport agencies communication Warsaw) Services B.V.
manufacture of manufacture electronic valves of electrical Gemplus Sp. z o. o. (Warsaw), Gemplus 412 GEMPLUS S.A. 17.6 France France and tubes and machinery and Pologne Sp. z o. o. – factory in Tczew other electronic apparatus components
International hotels and Burger King International Fast Food Polska Sp. z o. o. 413 Fast Food 17.5 USA USA restaurants restaurants (Warsaw) Corporation
Premium manufacture of Packaging pulp and paper, paper packaging 414 Tiefdruck 17.5 Austria Austria WALL Kraków Sp. z o. o. (Kraków) publishing and production Produtions printing GmbH
Bertelsmann Media Sp. z o. o. (Warsaw, publishing and 415 Bertelsmann AG 17.4 Germany Germany publishing of books Plewiska), Bertelsmann Media Klub printing Świat Książki Sp. z o. o. (Warsaw)
manufacture of production of 416 Klingspor GmbH 17.4 Germany Germany other non-metal Union-Vis Sp. z o. o. (Bielsko-Biała) abrasive products goods
manufacture manufacture Polam of electrical of electricity Elda Szczecinek Elektrotechnika S.A. 417 17.3 Netherlands Netherlands Holding BV machinery and distribution and (Szczecinek) apparatus control apparatus
43 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture manufacture of soap and United of chemicals 85% stake in Intersilesia Mc Bride 418 Mc Bride plc 17.3 United Kingdom detergents, cleaning Kingdom and chemical Polska Sp. z o. o. (Strzelce Opolskie) and polishing products preparations
manufacture of glass and glass products: Owens Illinois Polska S.A., stake in manufacture of manufacture of flat Owens-Illinois Huta Szkła (Jarosław, Podkarpackie 419 17.2 USA USA other non-metal glass; manufacture Inc. Voivodship), Huta Szkła Antoninek goods of glass fibres; (Poznań) production of abrasive products
99% of shares of Lajkonik Snacks S.A. manufacture (formerly Bahlsen Koncentraty of food, drinks production of sugar Spożywcze S.A. Skawina), 420 Bahlsen 17.0 Germany Germany and tobacco confectionery Bahlsen Sp. z o. o. (Poznań), Bahlsen products Sweet Sp. z o. o. , Lorenz Bahlsen Snack World Sp. z o. o. (Oława)
Enterprise community, Internationale social and Cofinco Poland Sp. z o. o. (Katowice), 421 pour 17.0 Luxembourg Luxembourg municipal services personal Landeco Sp. z o. o. (Siemianowice Śl.) I’Environement services S.A.
manufacture of Essilor Polonia Sp. z o. o. (Warsaw), Essilor manufacture of 422 17.0 France France other non-metal Essilor Optical Laboratory International optical glass goods Polska Sp. z o. o. (Warsaw)
manufacture of parts and accessories for Brembo Poland Sp. z o. o. (Dąbrowa 423 Brembo S.p.A. 17.0 Italy Italy automotive motor vehicles and Górnicza) their engines
manufacture Plastal manufacture of other 424 16.9 Sweden Sweden of rubber and Plastal Sp. z o. o. (Gliwice) Group AB plastic products plastics
manufacture of parts manufacture and accesories for 425 Autoliv AB 16.8 Sweden Sweden of transport Autoliv Polska Sp. z o. o. (Oława, Jelcz) motor vehicles and equipment their engines
Dr August manufacture Oetker of food, drinks food concentrates Dr Oetker Środki Odżywcze Gdańsk- 426 16.8 Germany Germany Nahrunghittel and tobacco producing Oliwa Sp. z o. o. (Gdańsk) K. G. products
Wiener 62% stake in Compensa Życie S.A., life insurance, Staedtische financial 98.8% stake in BTUiR Heros S.A., 100% 427 16.5 Austria Austria pension funding, Allgemeine intermediation stake in Towarzystwo Ubezpieczeń na non-life insurance Versicherung AG Życie Vienna Life S.A.
Kulczyk Tradex Sp. z o. o., 40% stake Kulczyk financial in Volkswagen Bank Polska S.A., 40% 428 16.5 Netherlands Netherlands banking Investment BV intermediation stake in Volkswagen Leasing Polska Sp. z o. o.
Actebis trade and 429 16.5 Germany Germany other wholesale ABC Data Sp. z o. o. (Warsaw) Holding GmbH repairs
manufacture manufacture of Fresenius of chemicals Fresenius Kabi Polska Sp. z o. o. 430 16.5 Germany Germany pharmaceutical Kabi AG nad chemical (Warsaw, factory in Kutno) preparations products
44 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) Mercurat manufacture manufacture of 99.99% stake in Winkhaus 431 Beteilgungs 16.5 Germany Germany of metals and locks and hinges Polska Sp. z o. o. (Rydzyna) GmbH metal products
manufacture United Biscuits United of food, drinks production of sugar Zakłady Przemysłu Cukierniczego 432 16.4 United Kingdom Investments Kingdom and tobacco confectionery San S.A. (Jarosław) products
manufacture of parts Manuli Auto Polska Sp. z o. o. (Katowice Manuli Rubber and accesories for 433 16.4 Italy Italy automotive SEZ), Manuli Hydraulics Polska S.A. Industries SpA motor vehicles and (Mysłowice) their engines
manufacture manufacture Ahlstromfore- of electrical of electricity 434 tagen Svenska 16.2 Sweden Sweden stake in “POLAM Szczecinek S.A.” machinery and distribution and Aktiebolg apparatus control apparatus
manufacture of manufacture Tessitura luggage, handbags Tessitura Bresciana Polska Sp. z o. o. 435 16.0 Italy Italy of leather and Bresciana and the like, (Pionki, Mazowieckie Voivodship) leather products saddlery and harness
manufacture manufacture of United of chemicals Vita Polymers Poland Sp. z o. o. (Brzeg 436 British Vita Plc 16.0 United Kingdom plastics in primary Kingdom and chemical Dolny), polyurethane foam plant (Lublin) forms products
manufacture of chemicals manufacture of pharmaceuticals plant (Kutno), BASF 437 BASF AG 16.0 Germany Germany and chemical pharmaceuticals Polska Sp. z o. o. (Warsaw) products
LG PHILIPS manufacture of manufacture of other LG Philips Displays Poland Sp. z o. o. 438 DISPLAYS 16.0 Netherlands Netherlands other non-metal technical ceramic (Skierniewice) HOLDING B.V. goods products
manufacture processing and ABBA of food, drinks 439 15.9 Sweden Sweden preserving of fish Superfish S.A. (Kołobrzeg) Seafood AB and tobacco and fish products products
production and power, gas and 52.5% stake in Szczecińska Energetyka 440 Ruhrgas A.G 15.8 Germany Germany distribution of water supply Cieplna Sp. z o. o. (Szczecin) electricity
wholesale of hardware, plumbing Dahl 441 15.4 Sweden Sweden wholesale trade and heating Tadmar S.A. (Poznań) International AB equipment and supplies
manufacture Chemitex United of chemicals manufacture of other stake in Alfa Systems Sp. z o. o. (Brzeg 442 15.4 United Kingdom Trading Ltd. Kingdom and chemical chemical products Dolny, Dolnośląskie Voivodship) products
manufacture Societe production and sale of food, drinks 443 Europeenne De 15.4 Italy Italy of processed fruit Konserwa Polska Sp. z o. o. (Łódź) and tobacco Conserve S.A. and fruit juice products
International Tobacco Machinery Poland Machinery manufacture of manufacture of Ltd (ITM POLAND Ltd, Radom), Products and 444 15.3 Netherlands Netherlands machinery and machinery for Precision Machine Parts Poland Ltd Development equipment tobacco processing (Radom), Aqua Technologies and Holding B.V. Processes Poland Ltd (Radom)
45 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) Cardif Assurance financial 445 15.3 France France insurance Cardif Polska S.A. (Warsaw) Risques Divers intermediation
manufacture of manufacture of Amatsuji Kogyo bearings, gears, AKS Precision Ball Polska Sp. z o. o. 446 15.3 Japan Japan machinery and Seisakusho gearing and driving (Żarów) equipment elements
manufacture manufacture of 70% shares in Onduline Polska 447 Onduline S.A. 15.1 France France of rubber and builders’ ware of Sp. z o. o. (Mielec) plastics plastic
manufacture Plastiques Du manufacture of plastics production facility in Kwidzyn, 448 15.1 France France of rubber and Val de Loire plastics factory in Gliwice, Kwidzyn plastics
ICM Meble Sp. z o. o. - factory in Wołów (Dolnośląskie Voivodeship), manufacture Fabryka Mebli Prudnik Sp. z o. o. Steinhoff manufacture of other 449 15.1 Switzerland Switzerland of consumer – factory in Prudnik (Opolskie Europe AG furniture products Voivodeship), KPM-Meble Kłodzko Sp. z o. o. (Kłodzko, Dolnośląskie Voivodeship)
Vogel & Noot manufacture of radiators VNH - Fabryka Grzejników Sp. z o. o. 450 Waermetechnik 15.0 Austria Austria machinery and manufacturing (Wałcz) AG equipment
Tishman Speyer development and Tishman Speyer Properties 451 15.0 USA USA real estate Properties (TSP) selling of real estate Polska Sp. z o. o. (Kraków, Warsaw)
Intersnack manufacture Knabber of food, drinks production of sugar Polsnack Sp. z o. o. (Warsaw), factory 452 15.0 Germany Germany Gebaeck GmbH and tobacco confectionery in Nysa & Co. K.G. products
Intersnack Knabber hotels and hotels and motels, 453 15.0 Austria Austria Syrena International Sp. z o. o. (Warsaw) Gebaeck GmbH restaurants with restaurant & Co. K.G.
manufacture Coats Poland Sp. z o. o., Coats Industrial United 454 Coats Viyella Plc 15.0 United Kingdom of fabrics and production of thread Poland Sp. z o. o. - thread factory in Kingdom textiles Łódź
manufacture Herlitz AG office equipment Herlitz Sp. z o. o. (Baranowo near 455 15.0 Germany Germany of consumer Berlin production Poznań) products
manufacture of Tsubaki Hoower Sp. z o. o., Zakład Tsubaki manufacture of roll 456 15.0 Japan Japan machinery and Elementów Tocznych Sp. z o. o. Nakashima bearings equipment (Kraśnik)
manufacture manufacture of ENERSYS of electrical accumulators, 457 15.0 Luxembourg Luxembourg Enersys S.A. (Bielsko-Biała) Holding machinery and primary cells and apparatus primary batteries
Hachette publishing and Hachette Filipacchi Polska Sp. z o. o. 458 15.0 France France publishing of books Livre S.A. printing (Warsaw)
manufacture manufacture of ROTO of wood 459 15.0 Germany Germany builders’ carpentry Roto Frank Sp. z o. o. (Lubartów) FRANK AG and wooden and joinery products
46 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) Fabryka Plastików Gliwice Sp. z o. o. manufacture manufacture of other (Gliwice), Fabryka Plastików Pomerania 460 Plastivaloire 15.0 France France of rubber and plastic products Sp. z o. o. (Kwidzyn), Fabryka Plastików plastics Kętrzyn Sp. z o. o. (Kętrzyn)
Goodrich manufacture manufacture 461 Aerospace 14.8 Canada USA of transport of aircraft and BF Goodrich Krosno Sp. z o. o. (Krosno) Canada LTD equipment spacecraft
Stroer Plakat Technic Media Sp. z o. o. business 462 Stroer Group 14.8 Germany Germany advertising activity (Warsaw), Stroer Polska Sp. z o. o. activities (Warsaw)
general construction King Cross of buildings and King Cross Sp. z o. o. – shopping centers 463 14.8 Italy Italy construction Group SRL civil engineering (Warsaw, Gdańsk and Łódź) works
PIONEER GLOBAL ASSET financial security broking and 51% stake in Pioneer PEKAO 464 14.7 Italy Italy MANAGEMENT intermediation fund management Investment Management S.A. (Warsaw) S.p.A.
Reflex manufacture manufacture of steel Reflex - Polska Sp. z o. o. (Wąbrzeźno, 465 Winkelmann 14.6 Germany Germany of metals and drums and similar Kujawsko-Pomorskie Voivodship), GmbH metal products containers Winkelmann Sp. z o. o. (Legnica SEZ)
manufacture processing and of food, drinks 466 Orkla Foods A.S. 14.5 Norway Norway preserving of fruit Kotlin Sp. z o. o. (Kotlin) and tobacco and vegetables products
Renault Polska Sp. z o. o. (Warsaw), Renault Group wholesale trade distribution of 467 14.5 Netherlands France spare parts store in Święcice near BV and repairs vehicles Warsaw
manufacture manufacture of steel 468 Logstor Ror A/S 14.3 Denmark Denmark of metals and Logstor Ror Polska Sp. z o. o. (Zabrze) tubes metal products
financial banking, other credit Cetelem Polska Expansion S.A., Cetelem 469 Cetelem S.A. 14.0 France France intermediation granting Bank S.A. (Warsaw)
hotels and 470 TelePizza S.A. 14.0 Spain Spain restaurants TelePizza Poland Sp. z o. o. (Warsaw) restaurants
Ruukki Polska Sp. z o. o. (Warsaw), manufacture manufacture of production plant in Katowice and 471 Ruukki OY 14.0 Finland Finland of metals and builders’ carpentry Żyrardów, 23.6% of shares of Metalplast metal products and joinery of metal Oborniki (Oborniki)
DBG Eastern Europe (Polska) Sp. z o. o. publishing (Warsaw), Wydawnictwo Naukowe DBG Osteuropa and printing; 472 14.0 Germany Germany printing PWN S.A. (Warsaw), Print Polska Holding GmbH media and Sp. z o. o. (Warsaw), IM Group Sp. z o. o. entertainment (Warsaw)
manufacture of parts manufacture Dana and accesories for 473 14.0 USA USA of transport WIX-FILTRON Sp. z o. o. (Gostyń) Corporation motor vehicles and equipment their engines
community, Beverly Hills social and motion picture and 474 14.0 USA USA Beverly Hills Video S.A. (Warsaw) Vide L.L.C. personal video distribution services
47 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture Alpla Sp. z o. o. – bottle factory 475 Alpla 14.0 Austria Austria of rubber and packaging (Żywiec) plastics
manufacture of manufacture of Beloit machinery for paper 476 14.0 USA USA machinery and stake in PMPoland S.A. (Jelenia Góra) Corporation and paperboard equipment production
manufacture manufacture of Electrolux Poland Sp. z o. o. (Warsaw), of electrical 477 Electrolux AB 14.0 Sweden Sweden electric domestic Electrolux Production Poland Sp. z o. o. machinery and appliances – factory in Siewierz apparatus
Gerling Konzern Gerling Polska Towarzystwo Allgemeine financial 478 14.0 Germany Germany non-life insurance Ubezpieczeń S.A. (Warsaw), ATU Versicherungs intermediation Sp. z o. o. (Warsaw) AG
manufacture of 88% stake in Kreisel Technika manufacture of 479 Kreisel GmbH 13.8 Germany Germany other non-metal Budowlana Sp. z o. o. (Poznań, glues and gelatines goods Katowice, Zgierz)
manufacture of Pionki Meble Sp. z o. o. (Mazowieckie 480 FIAAG 13.7 Germany Germany furniture and furniture production Voivodship) consumer goods
manufacture production of Czech of food, drinks Kofola Sp. z o. o. (Katowice) – factory 481 Kofola a.s. 13.7 Czech Republic mineral waters and Republic and tobacco in Kutno soft drinks products
hotels and hotels with Hotel Jan III Sobieski Sp. z o. o. 482 Rogner GmbH 13.6 Germany Germany restaurants restaurant (Warsaw)
waste disposal plant in Gdynia (joint power, gas and venture with Urząd Miasta Gdynia, 483 Lentjes 13.5 Germany Germany waste treatment water supply Zespół Elektrociepłowni Gdańsk, OPEC and Sanipor)
manufacture of manufacture paints, varnishes of chemicals ICI Polska Sp. z o. o. (Warsaw), stake in 484 ICI Omicron BV 13.1 Netherlands Netherlands and similar coatings, and chemical Polifarb Pilawa S.A. (Pilawa) printing ink and products mastics
Dagens Industri publishing and publishing of Bonnier Business Polska Sp. z o. o. 485 13.0 Sweden Sweden Holding AB printing newspapers (Warsaw)
manufacture manufacture of of electrical 486 Telect Holdings 13.0 USA USA communication Telect Polska Sp. z o. o. (Wrocław) machinery and equipment apparatus
manufacture manufacture of soap and Reckitt Benckiser S.A. in Nowy Dwór of chemicals 487 Benckiser 13.0 Germany Germany detergents, cleaning Maz., Reckitt Benckiser Poland Sp. z o. o. and chemical and polishing (Warsaw) products preparations
manufacture KWH KWH Pipe (Poland) Ltd. (Warsaw), plant 488 13.0 Finland Finland of rubber and pipes production Group Ltd. near Bełchatów plastics
manufacture manufacture of Stapelmann 489 13.0 Germany Germany of metals and metal structures and HMS Sp. z o. o. (Niepołomice) GmbH metal products parts of structures
48 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture 50% stake in Nałęczowianka Sp. z o. o. production of East Springs of food, drinks (Nałęczów), 85% stake in Zakład 490 12.9 Netherlands Netherlands mineral waters and International NV and tobacco Leczniczy Uzdrowisko Nałęczów soft drinks products Sp. z o. o.
50% stake in Bydgoskie Fabryki Mebli, manufacture of Mazurskie Fabryki Mebli, Słupskie Schieder Europa 491 12.8 Germany Austria furniture and furniture production Fabryki Mebli, Helvetia Meble Sp. z o o., Holding GmbH consumer goods 38% stake in Flair Poland Sp. z o. o. (Kobylnica)
manufacture Union Caffe of food, drinks manufacture of coffee roasting plant Elite Poland Sp. z o. o. 492 Confectionary 12.7 Netherlands Netherlands and tobacco coffee (Tarnowo Podgórne near Poznań) Group BV products
transport, 50% stake in Masterlink Express Sp. z o. o. 493 La Poste Group 12.7 France France storage and postal services (Warsaw) communication
manufacture of Timken rolling bearing 494 12.5 USA USA machinery and Timken Polska Sp. z o. o. (Sosnowiec) Company production equipment
community, social and recreational 495 Golf Investment 12.5 Netherlands Netherlands Mazury Golf&Country Club (Naterki) personal activities services
Ergon Polska Sp. z o. o. (Mszczonów), development and 496 Erbet B.V 12.5 Netherlands Netherlands real estate Ergon Real Estate Poland Sp. z o. o. selling of real estate (Mszczonów)
manufacture Malteries of food, drinks sugar confectionary Słodownia Soufflet Polska Sp. z o. o. 497 12.5 France France Soufflet S.A. and tobacco production (Poznań) products
retail sale in non- specialized stores 40% stake in Eurocash Sp. z o. o. 498 KIPI 12.4 Netherlands Netherlands wholesale trade with food, beverages (Poznań) or tobacco predominating
manufacture manufacture of Schulstad Brod of food, drinks bread; manufacture 499 12.3 Denmark Denmark Schulstad Sp. z o. o. (Poznań) A/S and tobacco of fresh pastry goods products and cakes
manufacture Teresio manufacture of Italian Fashion by Guazzone Sp. z o. o. 500 12.3 Italy Italy of fabrics and Guazzone Group underwear (Zielonka near Warsaw) textiles
VIESSMANN manufacture manufacture of Viessmann Technika Grzewcza Sp. z o. o. 501 Werke GmbH & 12.3 Germany Germany of metals and central heating (Legnica SEZ) Co KG metal products radiators and boilers
Tokai Rubber manufacture manufacture of 67.42% stake in TRI Poland Sp. z o. o. 502 Industries Ltd. 12.2 Japan Japan of rubber and rubber tyres and (Wolbrom) (TRI) plastics tubes
financial 91.7% stake in Samopomoc S.A., 51% 503 TALANX AG 12.2 Germany Germany insurance intermediation TU Samopomoc Życie S.A.
distribution of metal Lindab Sp. z o. o. 504 Lindab AB 12.2 Sweden Sweden wholesale trade products (Łomianki near Warsaw)
49 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) construction of Tabella shares in Krakowskie Przedsiębiorstwo 505 12.1 Netherlands Netherlands construction bridges on the A4 Holding BV Robót Drogowych S.A. (Kraków) highway
business computer and United activities, ICL Poland Sp. z o. o. (Warsaw), 506 ICL 12.1 United Kingdom related activities, Kingdom manufacture of Furnel S.A. furniture production furniture
manufacture aluminium Rial Aluguss Sp. z o. o. 507 Rial Aluguss 12.0 Germany Germany of metals and production (SEZ Tarnobrzeg) metal products
manufacture Legler Polonia Sp. z o. o. (Łódź) manufacture of other 508 Legler 12.0 Italy Italy of fabrics and – purchase of “Bistona” and “Roltex” outerwear textiles plants
power, gas and Carbon Black Polska share in “Zakład 509 Deguss Huls AG 12.0 Germany Germany electricity supply water supply Sadz Technicznych”
manufacture of manufacture television and radio Motorola Polska Sp. z o. o. (Warsaw), of electrical transmitters and Motorola Polska Electronics Sp. z o. o. 510 Motorola Inc. 12.0 USA USA machinery and apparatus for line (Kraków), Motorola Polska Software apparatus telephony and line Center in Krakow telegraphy
manufacture Franz Zentis of food, drinks manufacture of fruit Zentis Polska Sp. z o. o. – factory in 511 12.0 Germany Germany GmbH Co. KO and tobacco and vegetable juice Żelków near Siedlce products
manufacture Air Products Polska Sp. z o. o. Prodair of chemicals 512 11.9 USA USA oxygene production (Katowice), Air Products Gazy Sp. z o. o. Corporation and chemical (Kędzierzyn-Koźle) products
Inter financial life pension, Towarzystwo Ubezpieczeniowe Inter- 513 11.8 Germany Germany Versicherungen intermediation insurance Fortuna S.A. (Bielsko-Biała)
wholesale of hardware, plumbing wholesale and Buderus Technika Grzewcza Sp. z o. o. 514 Buderus HT 11.7 Germany Germany and heating retail trade (Tarnowo Podgórne) equipment and supplies
manufacture Lantbrukarnas of food, drinks production and 19.43% stake in “Sokołów S.A.” 515 Ekonomi 11.6 Sweden Sweden and tobacco preserving of meat (Sokołów Podlaski) Aktiebolag products
manufacture of Overseas pulp and paper, paper packaging 57.6% of shares of Big Carton Sp. z o. o. 516 Enterprises 11.5 Switzerland Switzerland publishing and production (Kliniska near Szczecin) Company Ltd. printing
manufacture of food, drinks manufacture of 517 Indafin Srl 11.5 Italy Italy Inda Polska Sp. z o. o. (Warsaw) and tobacco sugar confectionery products
Amhil Sp. z o. o. (Karlikowo), Wentworth manufacture manufacture of Wentworth Tech Sp. z o. o. (Poniatowa, 518 Technologies Co. 11.5 Canada Canada of rubber and plastic packing Lubelskie Voivodeship), Wentworth Tech Ltd. plastics goods Central Sp. z o. o. (Bydgoszcz)
50 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) Brugman manufacture manufacture of Brugman Fabryka Grzejników Sp. z o. o. 519 Radiatoren- 11.5 Netherlands Netherlands of metals and central heating (SEZ Legnica) fabriek B.V. metal products radiators and boilers
Amcol manufacture of manufacture of other 520 International 11.5 Netherlands Netherlands other non-metal non-metallic mineral CETCO Poland Sp. z o. o. (Szczytno) B.V. goods products n.e.c.
manufacture Eckes-Granini of food, drinks manufacture of fruit stake in Aronia S.A. (Łęczyca, Łódzkie 521 11.4 Germany Germany Int. and tobacco and vegetable juice Voivodship) products
Danske Bank financial 522 11.3 Denmark Denmark other credit granting Danske Bank Polska S.A. (Warsaw) A.S. intermediation
manufacture manufacture of Kruger Polska Sp. z o. o. (Ostrów of food, drinks 523 Kruger GmbH 11.2 Germany Germany cocoa; chocolate and Mazowiecka), Kruger Polska Handel and tobacco sugar confectionery i Eksport Sp. z o. o. (Warsaw) products
retail sale in non- specialized stores Reitangruppen Rema 1000 Poland Sp. z o. o. (Warsaw) 524 11.1 Norway Norway retail trade with food, beverages A/S – supermarket chain or tobacco predominating
manufacture Tomkins Int’ manufacture of 32.33% stake in Gates Polska Sp. z o. o. 525 11.0 Netherlands Netherlands of rubber and Holding gaskets (Legnica) plastics
manufacture of chemicals manufacture of 526 STO AG 11.0 Germany Germany Sto – ispo Sp. z o. o. (Warsaw) and chemical paints products
Hobas Rohre trade and Hobas Polska Sp. z o. o. (Poznań), Hobas 527 11.0 Germany Germany retail trade of pipes GmbH repairs System Polska Sp. z o. o. (Katowice)
publishing and publishing of G+J Gruner+Jahr Polska Sp. z o. o. 528 Gruner +Jahr 11.0 Germany Germany printing magazines (Warsaw)
Kerakoll manufacture of manufacture of 529 International 11.0 Netherlands Netherlands other non-metal Kerakoll Polska Sp. z o. o. (Rzgów) mortars B.V. goods
manufacture Nutreco manufacture of of food, drinks Trouw Nutrition Polska Sp. z o. o. 530 International 11.0 Netherlands Netherlands prepared animal and tobacco (Grodzisk Mazowiecki) B.V. feeds products
Salamander manufacture manufacture of Brugmann Polska Sp. z o. o. 531 Industrie 11.0 Germany Germany of rubber and builders’ ware of (Włocławek) Produkte GmbH plastics plastic
Metzeler manufacture Automotive manufacture of other Metzeler Automotive Profile 532 11.0 Germany Germany of rubber and Profile Systems rubber products Systems Sp. z o. o. (Dzierżoniów) plastics Europe GmbH
wholesale of solid, FORTUM OIL trade and liquid and gaseous 533 10.9 Netherlands Finland Fortum Polska Sp. o. o. (Warsaw) FINANCE B.V. repairs fuels and related products
51 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture of manufacture of corrugated paper and Inter Paper pulp and paper, 534 10.5 Sweden Sweden paperboard and of Intercell S.A. (Ostrołęka) Holding AG publishing and containers of paper printing and paperboard
25.1% stake in Towarzystwo Inter Ubezpieczeniowe Inter Polska S.A. financial 535 Lebensver- 10.5 Germany Germany life insurance (Warsaw), 47.7% stake in Towarzystwo intermediation sicherung AG Ubezpieczeń na Życie Inter-Życie Polska S.A.
RMG Regel + power, gas and Zakład Urządzeń Gazowniczych 536 Messtechnik 10.4 Germany Germany gas supply water supply “Gazomet” Sp. z o. o. (Rawicz) GmbH
manufacture of manufacture of concrete products 537 Unicon AS 10.3 Denmark Denmark other non-metal Unicon Beton Sp. z o. o. (Warsaw) for construction goods purposes
Deutsche Investitions und financial Polski Bank Rozwoju, Pioneer Venture 538 Entwicklungs- 10.3 Germany Germany banking intermediation Capital Funds, Maltzerei Baltic Malt gesellschaft GmbH
manufacture steel zinc coating 539 Seppeler Gruppe 10.0 Germany Germany of metals and Ocynkownia Śląsk (Chrzanów) plant metal products
manufacture of 50% of shares of Bosta Beton (Warsaw), 540 Scancem AB 10.0 Sweden Sweden other non-metal cement production Precon Polska bought “Jastrobet” in goods Jastrów
architectural and engineering Saxon Steel 80% stake in Saxon STEEL 541 10.0 Germany Germany real estate activities and Distribution DISTRIBUTION Inc. Sp. z o. o. related technical consultancy
production and P&T power, gas and 542 10.0 Germany Germany distribution of P&T Polska Sp. z o. o. (Poznań) Technology AG water supply electricity
Orix financial 543 10.0 Japan Japan financial leasing Orix Polska S.A. (Warsaw) Corporation intermediation
retail sale in non- specialized stores 544 Neinver 10.0 Spain Spain retail trade with food, beverages shopping centre in Warsaw or tobacco predominating
manufacture of Munksjo Packaging Sp. z o. o. pulp and paper, 545 Munksjo AB 10.0 Sweden Sweden packaging – packaging plant in Pruszków near publishing and Warsaw printing
manufacture manufacture of of food, drinks macaroni, noodles, 546 Michel Marbot 10.0 France France Danuta S.A. (Malbork) and tobacco couscous and similar products farinaceous products
distribution of food 547 Intermarche 10.0 France France wholesale trade ITM Polska Sp. z o. o. (Poznań) and chemicals
52 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture production of of food, drinks 548 Hero 10.0 International International mineral waters and Hero Polska Sp. z o. o. (Płock) and tobacco soft drinks products
trade in textiles and Nico Polska Sp. z o. o. (Swadzim, 549 Gruppo Nico 10.0 Italy Italy retail trade footwear Poznań, Kraków)
manufacture Graham manufacture of 550 10.0 USA USA of rubber and Masko-Graham Sp. z o. o. (Sulejówek) Packaging plastic packaging plastics
distribution Conoco Central of petroleum 551 10.0 USA USA gas station network Conoco Poland Sp. z o. o. (Warsaw) Europe Inc products, retail trade
manufacture manufacture of of food, drinks 552 Cloetta Fazer AB 10.0 Sweden Sweden cocoa; chocolate and Cloetta Fazer Polska Sp. z o. o. (Gdańsk) and tobacco sugar confectionery products
manufacture of stake in Zakłady Przemysłu Chaufourneries 553 10.0 Belgium Belgium other non-metal manufacture of lime Wapienniczego Opolwap (Tarnowo de Hergenrath goods Opolskie)
manufacture of manufacture fasteners, screw 554 Bulten AG 10.0 Sweden Sweden of metals and Bulten Polska S.A. (Bielsko-Biała) machine products, metal products chain and springs
wholesale of Bergerat Monnoyeur Sp. z o. o. Bergerat trade and 555 10.0 France France construction (Warsaw), branch offices in Poznań, Monnoyeur SAS repairs machinery Czeladź, Gdańsk, Wrocław
manufacture manufacture of soap and Paul of chemicals Paul Hartmann Polska Sp. z o. o. 556 10.0 Germany Germany detergents, cleaning Hartmann AG and chemical (Pabianice) and polishing products preparations
other Little League community, International operation of sports Europejskie Centrum Szkolenia Małej 557 10.0 USA USA social and Baseball and arenas and stadiums Ligi Baseballowej (Kutno) personal service Softball activities
manufacture of parts Simoldes and accessories for Simoldes Plasticos Polska Sp. z o. o. 558 10.0 Portugal Portugal automotive Plasticos motor vehicles and – factory in Jelcz Laskowice their engines
manufacture of manufacture of 559 Otis 9.9 Italy Italy machinery and lifting and handling 89% stake in Otis Sp. z o. o. (Warsaw) equipment quipment
70% of shares of Elite Polska Sp. z o. o. manufacture (Szczecin), remaining 30% owned by Polish Bakery of food, drinks manufacture of Spółdzielnia Produkcji Spożywczej 560 9.9 Netherlands Netherlands Investment BV and tobacco sugar confectionery Społem - confectionery, Polish Bakery products Investment is connected with Elite Industries Ltd from Israel
53 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture of manufacture of Nordic corrugated paper and pulp and paper, Intercell S.A. (Ostrołęka), Foster Environment paperboard and of publishing Wheeler Energy Fakop Sp. z o. o. 561 Finance 9.9 Finland Finland containers of paper and printing; (Warsaw), 25% stake in Prime Food Corporation and paperboard; manufacture of Sp. z o. o. (Przechlewo) (NEFCO) production and food preserving of meat
manufacture manufacture of of food, drinks Raisio Polska Foods Sp. z o. o. 562 Raisio Group 9.8 Finland Finland margarine and and tobacco (Karczew near Warsaw) similar edible fats products
manufacture of manufacture equipment and Sulzer Chemtech Polska Sp. z o. o. 563 Sulzer AG 9.8 Switzerland Switzerland of metals and machinery for (Przeźmierowo) metal products chemical industry
Nordenia manufacture Nordenia Polska Poznań Sp. z o. o. 564 Hungary Szada 9.8 Hungary Hungary of rubber and packaging (Dopiewo) (NHS) plastics
Nationale financial Towarzystwo Ubezpieczeń na Życie 565 9.8 Netherlands Netherlands insurance Nederlanden intermediation Nationale Nederlanden Polska S.A.
Hewlett Packard Polska Sp. z o. o. distribution of 566 Hewlett Packard 9.7 International International wholesale trade (Warsaw), Global e-Business Operations printers, computers Sp. z o. o. (Wrocław)
wholesale of other Jungheinrich trade and machinery for use in Jungheinrich Polska Sp. z o. o. (Bronisze 567 Beteiligungs 9.7 Germany Germany repairs industry, trade and near Warsaw) GmbH navigation
manufacture Gerber Foods United of food, drinks manufacture of fruit EMIG Sp. z o. o. (Warsaw) – factory in 568 9.7 United Kingdom Holdings Ltd. Kingdom and tobacco and vegetable juice Mogielnica products
manufacture of food, drinks manufacture of 569 Merrild Cafe 9.6 Denmark Denmark Prima S.A. (Poznań) and tobacco coffee products
United financial 570 FCE Bank Plc 9.6 United Kingdom banking Ford Credit Bank Polska S.A. (Warsaw) Kingdom intermediation
United sale of office 571 Xerox Ltd. 9.6 United Kingdom wholesale trade Xerox Polska Sp. z o. o. (Warsaw) Kingdom equipment
GTE publishing and publishing of 51% of shares of Eniro Polska Sp. z o. o. 572 9.5 USA USA International printing catalogues (Warsaw)
manufacture of Model Opakowania Sp. z o. o. Model pulp and paper, 573 9.4 Switzerland Switzerland packaging (Biłgoraj, Lubelskie Voivodship), Holding AG publishing and Model TekPak Sp. z o. o. (Czosnów) printing
Roltra Morse produciton of car Roltra Morse Poland Sp. z o. o. 574 9.4 Italy Italy automotive SpA Torino components (Sosnowiec)
Alte Leipziger financial stake in Towarzystwo Ubezpieczeniowe 575 9.3 Germany Germany insurance Europa AG intermediation Hestia Insurance S.A. (Sopot)
manufacture of manufacture of Aluplast Austria 576 9.2 Austria Austria other non-metal builders’ ware of Aluplast Sp. z o. o. (Poznań) GmbH goods plastic
54 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture manufacture of Zakłady Przemysłu Dziewiarskiego 577 Orfama 9.1 Portugal Portugal of fabrics and knitted garments “Archimode” Sp. z o. o. (Łódź) textiles
AGF Ubezpieczenia S.A. (Warsaw), financial 578 AGF 9.1 France France insurance 90% stake in AGF Ubezpieczenia intermediation na Życie S.A.
manufacture of parts BOS Automotive and accessories for BOS Automotive Products 579 Products Belgie 9.0 Belgium Belgium automotive motor vehicles and Polska Sp. z o. o. (Tychy) NV their engines
manufacture of 37.7% stake in Vesuvius Skawina Cookson manufacture of 580 9.0 Netherlands Netherlands other non-metal Materiały Ogniotrwałe Sp. z o. o. Holdings BV refractory products goods (Skawina)
manufacture manufacture of ICN of chemicals Przedsiębiorstwo Zagraniczne Solco 581 9.0 Switzerland Switzerland pharmaceutical Switzerland AG and chemical Basel Polska Sp. z o. o. (Warsaw) preparations products
AES Horizons power, gas and Żarnowiecka Elektrownia Gazowa S.A. 582 9.0 International International electricity supply Ltd water supply (Gdańsk)
Cookson manufacture of manufacture of 38.3% stake in Vesuvius Skawina United 583 Overseas 9.0 United Kingdom other non-metal refractory ceramic Materiały Ogniotrwałe Sp. z o. o. Kingdom Limited goods products (Skawina)
Central European manufacture of manufacture of 24% stake in Vesuvius Polska 584 Advanced 9.0 Netherlands Netherlands other non-metal refractory ceramic Skawina Sp. z o. o. (Skawina) Refractory goods products Technology BV
manufacture Brinkhaus manufacture of other 585 9.0 Germany Germany of fabrics and Brinkhaus Sp. z o. o. (Kostrzyn) GmbH & CO.KG textiles textiles
Chr. C. Grene sale of motor vehicle 65% stake in Grene Sp. z o. o. 586 8.9 Denmark Denmark wholesale trade A/S parts and accessories (Bydgoszcz, Leszno, Konin)
wholesale of hardware, plumbing TECE 587 8.9 Germany Germany wholesale trade and heating Tece Sp. z o. o. (Strzelin) GmbH&Co. KG equipment and supplies
manufacture of MASA-Decor manufacture pulp and paper, 588 GmbH & Co. 8.9 Germany Germany of paper and Masa-Decor Polska Sp. z o. o. (Ełk) publishing and KG paperboard printing
financial Wuestenrot Życie Towarzystwo 589 Wuestenrot AG 8.8 Austria Austria insurance intermediation Ubezpieczeniowe S.A
manufacture manufacture of Petrofer Oil and of chemicals 590 8.8 Germany Germany chemicals for 51% of shares of Petrofer Polska Chemicals and chemical chemical industry products
Toyo Seal manufacture manufacture of other 591 Industries Co. 8.6 Japan Japan of rubber and Toyo Seal Poland (Tychy) rubber products Ltd. plastics
Lisa Draexlmaier manufacture of DSE Draexlmaier Systemy Elektryczne 592 8.5 Germany Germany automotive GmbH transport equipment Sp. z o. o. (Jelenia Góra)
55 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) Inergy manufacture manufactures of Inergy Automotive Systems 593 Automotive 8.5 France France of rubber and tires Poland Sp. z o. o. (Lublin) Systems plastics
49% stake in Centrum Moda Sp. z o. o., E. Miroglio trade in textiles and 594 8.5 Luxembourg Luxembourg retail trade construction of Centrum Mody in Holding footwear Nadarzyn near Warsaw
RWE Umwelt community, 45% of shares of Wrocławskie Services social and 595 8.3 Germany Germany waste treatment Przedsiębiorstwo Oczyszczania Sp. z o. o. Deutschland personal (Wrocław) GmbH services
manufacture Baxter Baxter Terpol Sp. z o. o. (Sieradz), of chemicals manufacture of 596 Healthcare 8.3 Netherlands Netherlands 34% stake in Lubelskie Zakłady and chemical pharmaceuticals Corporation Farmaceutyczne Polfa S.A. (Lublin) products
Reed Elsevier publishing and Wydawnictwo Prawnicze Lexis Nexis 597 8.2 Netherlands Netherlands publishing of books Overseas B.V. printing Sp. z o. o.
Sumitomo manufacture of SEWS Polska Sp. z o. o. (Leszno), Electric Wiring electrical equipment 598 8.2 United Kingdom Japan automotive SEWS Cabind Poland Sp. z o. o. System Europe for engines and (Żywiec) Ltd. vehicles n.e.c.
manufacture YKK Holding manufacture of 599 8.2 Japan Japan of fabrics and YKK Poland Sp. z o. o. (Pogorzałki) Europe zippers textiles
Suomi Mutual financial Towarzystwo Ubezpieczeń na Życie 600 Life Assurance 8.2 Finland Finland life insurance intermediation FinLife S.A. (Warsaw) Company
Credit Suisse First Boston Polska Credit Suisse financial S.A.(Warsaw), purchase of 13.15% of 601 8.2 USA USA capital investment Private Equity intermediation shares of Zakłady Metali Lekkich Kęty S.A. (Śląskie Voivodship)
manufacture of Interprint pulp and paper, decorative paper 602 GmbH & Co. 8.1 Germany Germany Interprint Polska Sp. z o. o. (Łódź SEZ) publishing and production KG printing
wholesale of Eli Lilly trade and 603 8.1 Netherlands Netherlands pharmaceutical Eli Lilly Polska Sp. z o. o. (Warsaw) Nederland repairs goods
manufacture plastic packaging 604 Cebal S.A.S. 8.1 France France of rubber and 80% stake in Cebal Tuba (Łódź) production plastics
ITI Film Studies media and motion picture 605 8.0 Netherlands Netherlands Multikino Sp. z o. o. Poland BV entertainment projection
manufacture of Heye & Heinz Huta Szkła Działdowo Sp. z o. o. 606 8.0 Germany Germany other non-metal glass production Glas (Działdowo) goods
manufacture Fabryka Materiałów Medycznych of chemicals pharmaceuticals 607 Gerresheimer 8.0 Germany Germany Polfa S.A. (Bolesławiec, Dolnośląskie and chemical production Voivodship) products
growing of cereals 608 C&M 8.0 Italy Italy agriculture and other crops Greenfarm Sp. z o. o. (Olsztynek) n.e.c.
56 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture of chemicals manufacture of basic 609 Atofina S.A. 8.0 France France Atofina Polska Sp. z o. o. (Warsaw) and chemical chemicals products
PARKER manufacture of manufacture of other Parker Hannifin Sp. z o. o. (Warsaw, 610 HANNIFIN 8.0 Germany Germany machinery and general purpose Wrocław, Świebodzice) GmbH equipment machinery
manufacture processing and Binder of food, drinks Binder International Warszawa Sp. z o. o. 611 8.0 Germany Germany preserving of fruit International and tobacco (Warsaw) and vegetables n.e.c. products
manufacture Rieber and Son of food, drinks processing of tea 612 7.9 Norway Norway Rieber Foods Polska S.A. (Włocławek) ASA and tobacco and coffee products
other building 35.25% stake in Energomontaż Północ S.A. 613 GLORIA S.a.r.l. 7.9 Luxembourg Luxembourg construction installation (Warsaw)
SICES other building 35.25% stake in Energomontaż Północ S.A. 614 International 7.9 Netherlands Netherlands construction installation (Warsaw) B.V.
manufacture of food, drinks manufacture of 615 Raiffeisen HaGe 7.8 Germany Germany and tobacco prepared feeds for Raiffpol Sp. z o. o. (Słupsk) products; farm animals wholesale trade
Mitteldeutsche power, gas and steam and hot water 616 Energieversorgung 7.8 Germany Germany 69.5% stake in Elektrociepłownia Będzin water supply supply AG (MAEG)
manufacture Przedsiębiorstwo Farmaceutyczne of chemicals 617 Biofarma 7.8 France France pharmaceuticals Anpharm S.A. (Warsaw), Servier Polska and chemical Sp. z o. o. (Warsaw) products
manufacture Georg Utz Georg Utz Sp. z o. o. (Kąty 618 7.7 Switzerland Switzerland of rubber and packaging Holding Wrocławskie) plastics
manufacture of food, drinks manufacture of dairy 619 Bongrain 7.7 France France 65% of shares of Mleczarnia Turek and tobacco products products
business Intel Technology Poland Sp. z o. o. 620 Intel Europe Inc. 7.7 USA USA informatics activities (Gdańsk)
manufacture manufacture of of food, drinks 621 FmB & Co. KG 7.7 Germany Germany prepared feeds for SNP Uśnice Sp. z o. o. (Uśnice) and tobacco farm animals products
manufacture 622 Sandvik AB 7.6 Sweden Sweden of metals and manufacture of tools Sandvik Baildonit S.A. metal products
manufacture manufacture VALIN Snecma Polska Sp. z o. o. 623 7.5 France France of transport of aircraft and PARTICIPATIONS (Sędziszów Małopolski) equipment spacecraft
57 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) courier activities 50% stake in Masterlink Express Sp. z o. o. 624 Posten AB 7.5 Sweden Sweden postal services other than national (Warsaw) post activities
Pan Smak Pizza hotels and 625 7.5 Canada Canada restaurants pizza resturants Inc. restaurants
business 626 Italtriest Group 7.5 Italy Italy advertising activity IDEAPIU MAPP (Warsaw) activities
HP-Pelzer car components 627 International 7.5 Germany Germany automotive HP Polska (Gliwice, Katowice SEZ) production GmbH
manufacture of non- manufacture of domestic cooling Sest Luve Polska Sp. z o. o. (SEZ 628 Sest Luve 7.5 Italy Italy machinery and and ventilation Gliwice) equipment equipment
manufacture of other Thule Holding manufacture fabricated metal Thule Sp. z o. o. - factory in Wieleń in 629 7.5 Sweden Sweden AB of metals and products n.e.c. - load Wielkopolskie Voivodeshjp metal products carriers for cars
manufacture Zeelandia of food, drinks manufacture of other Zeelandia Sp. z o. o. (Tarnowo 630 International 7.5 Netherlands Netherlands and tobacco food products n.e.c Podgórne) Holding B.V. products
Lincoln Electric manufacture of manufacture of other International 631 7.4 USA USA machinery and special purpose Bester S.A. (Bielawa) Holding equipment machinery Company
Tower manufacture of parts Automotive and accessories for Tower Automotive Polska Sp. z o. o. 632 7.4 Germany Germany automotive Auslandsbeteili- motor vehicles and (Opole) gungen GmbH their engines
manufacture of YAGI Industries rolling bearing 633 7.4 Japan Japan machinery and Yagi Poland Factory Sp. z o. o. (Żarów) Co. Ltd production equipment
manufacture of chemicals pharmaceuticals Vetoquinol BIOWET Sp. z o. o. (Gorzów 634 Vetoquinol 7.3 France France and chemical production Wielkopolski) products
manufacture of manufacture of corrugated paper and pulp and paper, 635 Sical S.A. 7.2 France France paperboard and of 97% stake in Rawibox S.A. (Rawicz) publishing and containers of paper printing and paperboard
manufacture of SFM Mazurskie Meble International, 75% 636 7.2 Germany Germany furniture and furniture production Beteiligungen stake in Słupskie Fabryki Mebli consumer goods
manufacture aluminium Metra Poland Aluminium Sp. z o. o. 637 Metra 7.2 Italy Italy of metals and processing (Młochów near Nadarzyn) metal products
manufacture Novo Nordisk of chemicals manufacture of Novo Nordisk Pharma Sp. z o. o. 638 Region Europe 7.1 Switzerland Denmark and chemical pharmaceuticals (Warsaw) A/S products
58 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) Kludi Arma- manufacture of 639 turen Austria 7.1 Austria Austria machinery and faucet production Kludi Armaturen Sp. z o. o. (Opole) GmbH equipment
publishing and Polskie Książki Telefoniczne Sp. z o. o. 640 Verizon 7.0 USA USA other publishing printing (Warsaw)
publishing and Polskie Książki Telefoniczne Sp. z o. o. 641 Telenor 7.0 Norway Norway other publishing printing (Warsaw)
Szwajcarski wholesale of food, Wielkopolska Giełda Rolno-Ogrodnicza 642 Fundusz 7.0 Switzerland Switzerland wholesale trade beverages and S.A. (Poznań) Rządowy tobacco
transport, sea and coastal 643 Staight Crosing 7.0 Canada Canada storage and 70% of shares in Europort (Gdańsk) water transport communication
manufacture of chemicals manufacture of 644 Solvay 7.0 Belgium Belgium Solvay Chemia Sp. z o. o. (Warsaw) and chemical cosmetics products
retail sale of Samsung Republic of Republic of electrical household Samsung Electronics Polska Sp. z o. o. 645 Electronics Co. 7.0 wholesale trade Korea Korea appliances and radio (Warsaw) LTD and television goods
manufacture processing and of food, drinks 646 Frosta AG 7.0 Germany Germany preserving of fruit Frosta Sp. z o. o. (Bydgoszcz, Warsaw) and tobacco and vegetables n.e.c. products
manufacture Freudenberg manufacture of other 647 7.0 Italy Italy of fabrics and Freudenberg Politex Sp. z o. o. (Łódź) Politex Srl textiles n.e.c. textiles
financial security broking and 648 Erste Bank 7.0 Austria Austria Erste Securities Polska S.A. (Warsaw) intermediation fund management
transport, cargo handling and 649 Mitsubishi Corp. 7.0 Japan Japan storage and MCTI Polska Sp. z o. o. (Błonie) storage communication
manufacture of manufacture computers and of electrical Zakłady Urządzeń Komputerowych 650 MWCR S.p.A. 7.0 Italy Italy other information machinery and ELZAB S.A. (Zabrze) processing apparatus equipment
manufacture of parts HUF Hulsbeck & and accessories for 651 Furst GmbH & 7.0 Germany Germany automotive Huf Polska Sp. z o. o. (Tychy) motor vehicles and Co. KG their engines
Christman manufacture of & Pfeifer 652 6.8 Germany Germany furniture and furniture production C+P Systemy Meblowe (Legnica) Mobelsysteme consumer goods GmbH&Co KG
manufacture Colgate- tooth-paste, 55% stake in Colgate-Palmolive of chemicals 653 Palmolive 6.8 USA USA shampoo and soap Poland Sp. z o. o. (Halinów near and chemical America INC production Warsaw) products
59 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture of manufacture of concrete products Consolis Polska Sp. z o. o. (Gorzkowice 654 Consolis Oy Ab 6.8 Finland Finland other non-metal for construction near Piotrków Trybunalski) goods purposes
manufacture of manufacture of glues MAPEI Polska Sp. z o. o. (Gliwice), 655 MAPEI S.p.A. 6.8 Italy Italy other non-metal for construction Sopro Polska Sp. z o. o. (Warsaw), goods market Górka Cement Sp. z o. o. (Trzebinia)
manufacture of parts GKN Industries United and accessories for GKN Driveline Polska Sp. z o. o. 656 6.8 United Kingdom automotive Limited Kingdom motor vehicles and (Oleśnica) their engines
manufacture of parts and accessories for 50% stake in TBMECA Poland Sp. z o. o. 657 MECAPLAST 6.8 Monaco Monaco automotive motor vehicles and (Legnica) their engines
manufacture Carbowill Sp. z o. o., Cardigas Polska of chemicals manufacture of 658 ACP Europe 6.7 Belgium Belgium Sp. z o. o., ACP Polska Sp. z o. o. and chemical industrial gases (Włocławek) products
manufacture Investeringsfonden of food, drinks production and 36% stake in Prime Food Sp. z o. o. 659 6.7 Denmark Denmark for Ostlandene and tobacco preserving of meat (Przechlewo) products
46% stake in Głogowskie municipal 660 Gelsenwasser AG 6.6 Germany Germany water supply Przedsiębiorstwo Wodociągów services i Kanalizacji Sp. z o. o. (Głogów)
manufacture of manufacture of Boart Longyear machinery for 661 6.6 Netherlands Netherlands machinery and Boart Longyear Sp. z o. o. (Złotoryja) International BV mining, quarrying equipment and construction
Sprick- manufacture manufacture of 662 Fahrrader 6.5 Germany Germany of transport Sprick-Rowery Sp. z o. o. (Świebodzin) bicycles GmbH equipment
Siemens Building other building Siemens Building Technologies Sp. z o. o. 663 6.5 Switzerland Switzerland construction Technologies AG installation (Warsaw)
manufacture manufacture Schneider of electrical of electricity Schneider Electric Polska Sp. z o. o. 664 6.5 France France Electric machinery and distribution and (Warsaw) apparatus control apparatus
installation of 665 Moeller GmbH 6.5 Germany Germany construction electrical wiring and Moeller Electric Sp. z o. o. (Gdańsk) fittings
manufacture Lima Industrie manufacture of other 39.5% stake in Dantex Sp. z o. o. 666 6.5 Liechtenstein Liechtenstein of fabrics and Anstalt outwear (Warsaw) textiles
retail sale in non- specialized stores network of supermarkets (Kraków, Julius Meinl 667 6.5 Austria Austria retail trade with food, beverages Stalowa Wola, Zakopane, Tarnów, International AG or tobacco Sosnowiec, Ostrowiec Świętokrzyski) predominating
retail sale of electrical household 668 Germanos 6.5 Greece Greece retail trade Germanos (Warsaw) 92 sales outlets appliances and radio and television goods
60 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture of manufacture fasteners, screw 669 Broen A/S 6.5 Denmark Denmark of metals and Broen DZT S.A. machine products, metal products chain and springs
installation of RWE Solutions 670 6.5 Germany Germany construction electrical wiring and Elbud Gdańsk Holding S.A. (Gdańsk) Frankfurt fittings
PaperlinX 671 Investments 6.5 United Kingdom Australia wholesale and other wholesale Mercator Papier Sp. z o. o. (Kraków) (Europe) Limited retail trade
Nordica manufacture of manufacture of other Christianapol Fabryka Mebli 672 Polstermobel 6.4 Germany Germany furniture and furniture Tapicerowanych Sp. z o. o. (Łowyń) Beteiligung consumer goods
Scanpol hotels and hotels with Hotel New Skanpol Sp. z o. o. 673 International 6.4 Denmark Denmark restaurants restaurant (Kołobrzeg) ApS
Superior manufacture manufacture of other 674 International 6.4 USA USA of metals and fabricated metal FCPK - Bytów Sp. z o. o. (Bytów) Resources Inc. metal products products n.e.c.
Polen Zement manufacture of 75% of shares of Kombinat Cementowo- Beteiligungs- 675 6.3 Germany Germany other non-metal cement production Wapienniczy Warta S.A. (Działoszyn, gesellshaft goods Łódzkie Voivodship) GmbH
manufacture of food, drinks Celia Polska Sp. z o. o., stake in dairy 676 Celia 6.3 France France manufacture of dairy and tobacco “Fobs” (Sieraków) products
manufacture of production of pulp and paper, 677 Duni AB 6.3 Sweden Sweden napkins, table covers Duni Poland Sp. z o. o. (Poznań) publishing and and candles printing
Credit Lyonnais financial other monetary 678 6.3 France France Calyon Bank Polska S.A. (Warsaw) Global Banking intermediation intermediation
contribution to equity of KZP Kostrzyn Swedfund financial insulating materials 679 6.2 Sweden Sweden – paper producer, Nordiska Ekofiber International AB intermediation manufacturer Polska
manufacture of manufacture of Braaten machinery for paper 44.2% stake in PMPoland S.A. 680 6.2 USA USA machinery and Companies LLD. and paperboard (Jelenia Góra) equipment production
manufacture Ergom Materie production of plastic 681 6.1 Italy Italy of rubber and ER.SI. Poland Sp. z o. o. (Sosnowiec) Plastiche SpA parts for Fiat cars plastics
manufacture other manufacturing 682 BIC CLICHY 6.1 France France of consumer BIC Polska Sp. z o. o. (Warsaw) n.e.c. products
Westinghouse Westinghouse Electric Poland Ltd. trade and other retail sale in 683 Electric 6.0 USA USA (Warsaw), 40% stake in Energoserwis repairs specialized stores Corporation S.A. (Lubliniec)
Telediffusion transport, de France Polskie Sieci Nadawcze Sp. z o. o. 684 6.0 France France storage and telecommunications International (Warsaw) communication (TDF)
61 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture of parts Summit Motors United and accessories for Summit Motors Poland Sp. z o. o. 685 6.0 United Kingdom automotive Investment U.K. Kingdom motor vehicles and (Warsaw) their engines
manufacture manufacture of other 686 Orsa Srl 6.0 Italy Italy of fabrics and Pol-Orsa Sp. z o. o. (Żary) outerwear textiles
general construction Lurgi Oel Gas of buildings and 687 6.0 Germany Germany construction Lurgi Polska S.A. Chemie GmbH civil engineering works
manufacture 688 Condor 6.0 Italy Italy of leather and footwear production Arcobaleno Sp. z o. o. (Zielona Góra) leather products
trade and retail sale of sports 689 Go Sport 6.0 France France Go Sport Polska (Warsaw) repairs articles
manufacture of chemicals, manufacture of Republic of Republic of chemical 10% stake in SK Eurochem Sp. z o. o. 690 LG International 6.0 plastics in primary Korea Korea products and (Włocławek) forms man-made fibres
SMITHS manufacture manufacture United Smith Aerospace Components Poland 691 GROUP 6.0 United Kingdom of transport of aircraft and Kingdom Sp. z o. o. (Dzierżoniów) AEROSPACE equipment spacecraft
manufacture Weber GmbH & manufacture of other 692 6.0 Germany Germany of rubber and Wezi-tec Sp. z o. o. – factory in Legnica Co. KG plastic products plastics
manufacture manufacture of Henschel 693 5.9 Belgium Belgium of metals and metal structures and Teleskop Sp. z o. o. (Kostrzyn) Engineering N.V. metal products parts of structures
manufacture tooth-paste, Talego of chemicals 45% stake in Colgate Palmolive Poland 694 5.8 Netherlands Netherlands shampoo and soap Holding BV and chemical Sp. z o. o. (Halinów near Warsaw) production products
Marks & United trade and 695 5.8 United Kingdom trade of clothes Marks & Spencer (Warsaw) Spencer Kingdom repairs
manufacture of KARL manufacture paints, varnishes 50% stake in Farby Kabe Polska Sp. z o. o. 696 BUBENHOFER 5.8 Switzerland Switzerland of chemicals and similar coatings, (Katowice) AG and chemical printing ink and products mastics
manufacture manufacture of 697 Roplasto 5.7 Germany Germany of rubber and builders’ ware of PCV windows production (Wrocław) plastics plastic
manufacture of television and radio manufacture receivers, sound of electrical 698 Grundig AG 5.7 Germany Germany and video recording Grundig Polska Sp. z o. o. (Warsaw) machinery and or reproducing apparatus apparatus and associated goods
62 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture of manufacture of B United 699 5.7 United Kingdom machinery and electric domestic Oasis East Sp. z o. o. (Gliwice) INTERNATIONAL Kingdom equipment appliances
manufacture Ulstein Holding ship components 700 5.6 Norway Norway of transport Ulstein Fama Sp. z o. o. (Gniew) ASA production equipment
manufacture of manufacture of Nichimen bearings, gears, 701 5.6 Japan Japan machinery and 4.5% stake in NSK Iskra S.A. (Kielce) Corporation gearing and driving equipment elements
trade and 702 Big Star Holding 5.6 Switzerland Switzerland trade of clothes Big Star Limited Sp. z o. o. (Kalisz) repairs
manufacture casting of other non- Oras Olesno Sp. z o. o. (formerly 703 Oras OY 5.5 Finland Finland of metals and ferrous metals Standard Armatura) metal products
manufacture Cordesmeyer of food, drinks stake in Gdańskie Młyny i Spichlerze Dr. 704 5.5 Germany Germany manufacture of flour Franc and tobacco Cordesmeyer Ltd. Sp. z o. o. (Gdańsk) products
manufacture of chemicals pharmaceuticals 705 US Pharmacia 5.5 USA USA pharmaceuticals production in Wrocław and chemical production products
manufacture of chemicals pharmaceuticals 51% stake in Lubelskie Zakłady 706 Spectra 5.5 International International and chemical production Farmaceutyczne Polfa S.A. (Lublin) products
Pagh Morups manufacture manufacture of 707 Bornekonfektion 5.5 Denmark Denmark of fabrics and PMB Sp. z o. o. (Piła) drubbing textiles APS textiles
wholesale of Lukoil Polska (Warsaw), gas station 708 OAO LUKOIL 5.5 Russia Russia retail trade gaseous fuels network
Chr. Hansen Poland Sp. z o. o. 709 Chr. Hansen A\S 5.5 Denmark Denmark wholesale trade other wholesale (Cząstków Mazowiecki)
manufacture HK Ruokatalo of food, drinks production and 21.12% stake in “Sokołów” S.A. 710 5.4 Finland Finland Oyj and tobacco preserving of meat (Sokołów Podlaski) products
manufacture Elsner Products Sp. z o. o., 3 food of food, drinks manufacture of 711 Globus 5.4 Hungary Hungary freezers in Lipno, Dąbrowa Chełmińska and tobacco frozen food products and Adamowo; refrigerator in Ełk products
Total Fina Elf Polska Sp. z o. o. Total Fina ElF trade and distribution of 712 5.4 France France (Warsaw), Elf Lubricants (Nowy Dwór S.A. repairs petroleum products Mazowiecki)
Karl Konecke manufacture production of meat Fleischwaren- of food, drinks 713 5.3 Germany Germany and poultrymeat Konecke Sp. z o. o. (Słubice) fabrik GmbH & and tobacco products Co. KG products
manufacture manufacture of 714 Arot AB 5.3 Sweden Sweden of rubber and plastic plates, sheets, Arot Polska Sp. z o. o. (Leszno) plastics tubes and profiles
63 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture General of food, drinks manufacture of grain 50% stake in Cereal Partners Poland 715 5.2 USA USA Mills Inc. and tobacco mill products Toruń-Pacific Sp. z o. o. (Toruń) products
manufacture of manufacture paints, varnishes of chemicals 716 Dyrup 5.2 Germany Germany and similar coatings, Dyrup Sp. z o. o. (Łódź) and chemical printing ink and products mastics
JFC manufacture manufacture of other 717 Manufacturing 5.2 Ireland Ireland of rubber and JFC Polska Sp. z o. o. (Radzymin) plastic products Ltd. plastics
Selective American financial 718 5.1 USA USA banking stake in GE Capital Bank S.A. (Gdańsk) Financial intermediation Enterprises
Ballinger financial 719 5.1 Cyprus Cyprus capital investment 50% stake in BRE Private Equity Sp. z o. o. Holdings Ltd. intermediation
manufacture manufacture of Chipita Poland Sp. z o. o. (Warsaw), of food, drinks bread; manufacture 720 Chipita 5.1 Greece Greece Chipita Sp. z o. o. – factory in Tomaszów and tobacco of fresh pastry goods Mazowiecki products and cakes
transport, Kuehne&Nagel activities of other 721 5.0 Germany Switzerland storage and Kuhne & Nagel Sp. z o. o. (Gądki) Beteiligungs AG transport agencies communication
manufacture Peacock of food, drinks manufacture of 70.1% stake in Podlaska Wytwórnia 722 5.0 USA USA Corporation and tobacco vodka Wódek Polmos S.A. (Siedlce) products
Glaverbel Polska Sp. z o. o., Glaverbel manufacture of shaping and Wiglav S.A., Glaverbel Szkło-Glav Sp. Glaverbel Czech 723 5.0 Czech Republic other non-metal processing of flat z o. o., Glaverbel Silesia, Glaverbel Czech A.S. Republic goods glass Balticglav Sp. z o. o., Glaverbel Kwarcglav Sp. z o. o.
manufacture TLH of wood manufacture of TLH Polska Sp. z o. o. (Białe Błota near 724 Verwaltungs- 5.0 Austria Austria and wooden wood Bydgoszcz) und Beteiligungs products
transport and Logistic Centre Schrader Interlog 725 Schrader 5.0 Germany Germany logistic activity storage (Poznań)
manufacture of manufacture of other Schmidt 726 5.0 Netherlands Netherlands machinery and special purpose Schmidt Polska Sp. z o. o. (Kielce) Holland BV equipment machinery n.e.c.
S&T System Integration & business computer and 727 5.0 Austria Austria S&T Polska Sp. z o. o. (Warsaw) Technology activities related activities Distribution AG
Polish-Pre-Ipo business 728 5.0 Luxembourg Luxembourg informatics ATM S.A. (Warsaw) Luxemburg activities
manufacture manufacture of Nutricia Sp. z o. o. (Warsaw and Opole), Royal of food, drinks homogenised food 66% of shares of Okręgowa Spółdzielnia 729 5.0 Netherlands Netherlands Numico N.V. and tobacco preparations and Mleczarska (Węgrów, Mazowieckie products dietetic food Voivodship)
64 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) hotels and hotels with 730 Marriott 5.0 USA USA Hotel Marriott (Warsaw) restaurants restaurant
sewage and refuse municipal EKO-RAD in Radom, Europenne de 731 EdS 5.0 Belgium Belgium disposal, sanitation services Service Poland (Warsaw) and similar activities
Cox Enterprises, publishing and publishing of daily Cox Poland Investments, 10.3% stake in 732 5.0 USA USA Inc. printing newspapers Agora S.A.
Centrum Systemów Informatycznych business 733 Apcon 5.0 Germany Germany computer activities – “Centre of Information Systems” activities (Tarnowo Podgórne)
Agro East Agro East Europe Sp. z o. o. (Łupawa, 734 5.0 Netherlands Netherlands agriculture growing of potatos Europe BV Pomorskie Voivodship)
manufacture Plati manufacture of of electrical 735 Elettroforniture 5.0 Italy Italy insulated wire and Plati Polska Sp. z o. o. (Kwidzyn) machinery and Spa cable apparatus
manufacture processing and of food, drinks 736 A. Espersen A/S 5.0 Denmark Denmark preserving of fish Espersen Polska Sp. z o. o. (Koszalin) and tobacco and fish products products
software Oracle business consultancy and 737 5.0 USA USA Oracle Polska Sp. z o. o. (Warsaw) Corporation activities supply, data base activities
manufacture of manufacture pulp and paper, 738 Steijn Design BV 5.0 Netherlands Netherlands of paper and Steijn Paper Sp. z o. o. (Łódź) publishing and paperboard printing
Euler Hermes Versicherungen- financial Towarzystwo Ubezpieczeniowe Euler 739 5.0 Germany Germany non-life insurance beteiligungen intermediation Hermes S.A. GmbH
manufacture of chemicals, Alcea S.r.l. chemical manufacture of 740 5.0 Italy Italy Pulverit Polska Sp. z o. o. (Tychy) Group products and paints man-made fibres
manufacture Henkell& of food, drinks manufacture of Toruńskie Piwnice Win Vinpol Sp. z o. o. 741 4.9 Germany Germany Sohnlein KG and tobacco wines (Toruń) products
Fina Grain manufacture Compagnie of food, drinks poultry processing shareholder of Opolskie Zakłady 742 4.9 Switzerland Switzerland Commerciale and tobacco plant Drobiarskie Financiere products
manufacture of parts CF Gomma and accessories for 743 4.8 Netherlands Netherlands automotive CF Gomma Sp. z o. o. (Częstochowa) Nederland motor vehicles and their engines
trade and service 744 Kodak Ltd. 4.7 United Kingdom Japan retail trade of photographic Foto World Sp. z o. o. (Warsaw) equipment
65 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) production and Caterpillar power, gas and distribution of Elektrociepłownia Starachowice Sp. z o. o. 745 4.7 Netherlands USA Power Ventures water supply electricity, steam (Starachowice) and hot water supply
manufacture casting of light Alutec Sp. z o. o. (Stalowa Wola, SEZ 746 Lothar Thoni 4.6 Ireland Germany of metals and metals Tarnobrzeg) metal products
manufacture of manufacture of 747 Sika Finaz AG 4.5 Switzerland Switzerland other non-metal ceramic sanitary Sika Poland Sp. z o. o. (Warsaw) goods equipment
manufacture manufacture of Muscle Machine 748 4.5 Sweden Sweden of rubber and builders’ ware of Marmite International S.A. (Palędzie) Sweden plastics plastic
manufacture manufacture of other 749 Bianca Modern 4.5 Germany Germany of fabrics and Bianca Polska Sp. z o. o. (Elbląg) outerwear textiles
Polychem manufacture manufacture of other 750 Isokierhandel 4.5 Germany Germany of rubber and Polychem Systems Sp. z o. o. (Poznań) plastic products GmbH plastics
publishing and publishing of Seregni Agpol Sp. z o. o. and Seregni 751 Seregni SpA 4.4 Italy Italy printing magazines Printing Group Sp. z o. o. (Warsaw)
Rheinkalk manufacture of Wojcieszowskie Zakłady Przemysłu 752 GmbH & CO. 4.4 Germany Germany other non-metal manufacture of lime Wapienniczego Sp. z o. o. (Dolnośląskie KG Willfroth goods Voivodeship)
architectural and engineering activities and Walter-Heilit related technical Verkehrs- real estate; HEILIT + WOERNER 753 4.4 Germany Germany consultancy; wegebau construction Budowlana Sp. z o. o. construction of GmbH highways, roads, airfields and sport facilities
DELOITTE accounting, book- CENTRAL business keeping and auditing 754 EUROPE 4.4 Cyprus Cyprus Deloitte & Touche Sp. z o. o. (Warsaw) activities activities; tax HOLDINGS consultancy LIMITED
manufacture manufacture of basic GIRARDINI Italmetal Sp. z o. o. - factory in Jelcz 755 4.4 Italy Italy of metals and iron and steel and of S.r.l. Laskowice metal products ferro-alloys
Filatura e manufacture preparation and 756 Tessitura di 4.3 Italy Italy of fabrics and spinning of textile Tollegno 1900 Poland Sp. z o. o. (Łódź) Tollegno SpA textiles fibres
manufacture ARLA FOODS of food, drinks manufacture of dairy Arla Foods Sp. z o. o. - factory in 757 4.3 Denmark Denmark AmbA and tobacco products Gościno near Kołobrzeg products
AS PROPULSION manufacture manufacture 758 INTERNATIONAL 4.3 Netherlands Netherlands of transport of aircraft and Avio Polska Sp. z o. o. (Bielsko-Biała) B.V. equipment spacecraft
manufacture production of Euromatch Sp. z o. o. (Bystrzyca 759 Italmatch Srl 4.2 Italy Italy of consumer matches Kłodzka) products
66 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) E. Hawle manufacture of manufacture of taps Fabryka Armatury Hawle Sp. z o. o. 760 Armaturenwerke 4.2 Austria Austria machinery and and valves (Poznań) GmbH equipment
distribution AGIP Petroli of petroleum 761 4.2 Italy Italy gas station network Agip Polska S.A. (Warsaw) SpA products, retail trade
Voith Turbo sale of motor vehicle Voith Turbo Sp. z o. o. (Wola 762 Vertriebsgesell- 4.2 Germany Germany retail trade parts and accessories Krzysztoporska, Łódzkie Voivodeship) schaft GmbH
STIHL manufacture producing of tools Andreas Stihl Sp. z o. o. - plant in Sady 763 International 4.2 Germany Germany of metals and for forestry and near Poznań GmbH metal products gardening
manufacture L. Molteni & of chemicals pharmaceuticals Molteni Farmaceutici Polska Sp. z o. o. 764 C.dei F.lli Alitti 4.1 Italy Italy and chemical manufacturing (Kraków) SpA products
Caisse Centrale 28.55% stake in Bank Inicjatyw financial 765 de Credit 4.1 France France banking Społeczno Ekonomicznych S.A. intermediation Cooperatif (Warsaw)
manufacture of Crystal Clear manufacture of 49.5% stake in Sudety Crystal Works 766 4.1 USA USA other non-metal Industries Inc. hollow glass Sp. z o. o. (Szczytna) goods
real estate photographic CeWe Color Sp. z o. o. (Kędzierzyn- 767 CeWe Color 4.1 Germany Germany and business activities Koźle) activities
manufacture of parts and accessories for 30% stake in TBMECA Poland Sp. z o. o. 768 Toyota Boshoku 4.1 Japan Japan automotive motor vehicles and (Legnica) their engines
manufacture Hemelter Muhle of food, drinks Stake in Gdańskie Młyny i Spichlerze Dr. 769 4.0 Germany Germany manufacture of flour GmbH and tobacco Cordesmeyer Ltd. Sp. z o. o. (Gdańsk) products
sale of motor vehicle 95% stake in Nesky Poland Sp. z o. o. 770 Nesky Inc. 4.0 USA USA wholesale trade parts and accessories (Kraków)
publishing of Marquard publishing and 771 4.0 Switzerland Switzerland magazines: Playboy, VIPress Sp. z o. o. Media AG printing Voyage
general construction Polinvest Sp. z o. o. (Gdynia-Orłowo), of buildings and 772 Klif Holding A/S 4.0 Norway Norway construction Klif shopping centres in Gdynia and civil engineering Warsaw works
76% stake in insurance company Inter- financial 773 Inter Group 4.0 Germany Germany life insurance Fortuna SA, 64% stake in life insurance intermediation company Inter-Fortuna Życie
manufacture office equipment 774 Hamelin Group 4.0 France France of consumer Bantex Poland Sp. z o. o. (Błonie) production products
manufacture manufacture of Maszyny Elektryczne Celma S.A. Interelektra of electrical electric motors, (Cieszyn), 20% stake in Indukta S.A. 775 4.0 Luxembourg Luxembourg Holding S.A. machinery and generators and (Bielsko Biała), Emit S.A. (Żychlin, apparatus transformers Łódzkie Voivodship)
67 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture manufacture of of electrical electric motors, 776 Festo GmbH 4.0 Austria Austria Festo Sp. z o. o. (Janki) machinery and generators and apparatus transformers
Magnaplast manufacture manufacture of Magnaplast Sp. z o. o. - factory in 777 Hausabflus- 4.0 Germany Germany of rubber and plastic plates, sheets, Sieniawa Żarska technik GmbH plastics tubes and profiles
manufacture manufacture of 778 PACTIV Corp. 4.0 USA USA of rubber and plastic packing Pactiv Sp. z o. o. (Pyskowice) plastics goods
Pneuhage Management sale of motor vehicle Pneuhage Serwis Opon Sp. z o. o. 779 3.9 Germany Germany retail trade GmbH & CO. parts and accessories (Poznań) KG
manufacture Elopak Denmark packaging for dairy Elopak Sp. z o. o. (Czosnów near 780 3.9 Denmark Denmark of rubber and AS products Warsaw) plastics
manufacture of parts POLYTEC and accessories for Polytec Interior Polska Sp. z o. o. 781 3.8 Austria Austria automotive HOLDING AG motor vehicles and (Tomaszów Mazowiecki) their engines
manufacture of 782 Wesermo 3.8 Luxembourg Luxembourg furniture and furniture production AIDA Sp. z o. o. (Oleśnica) consumer goods
manufacture Sektkellerei of food, drinks manufacture of 783 Schloss 3.8 Germany Germany stake in AMBRA S.A. (Biłgoraj) and tobacco wines Wachenheim AG products
manufacture La Fourmi Polska Sp. z o. o. 784 La Fourmi 3.8 France France of leather and footwear production (Skierniewice) leather products
Gillingham manufacture of Portland Cement United manufacture of stake in Cementownia Chełm S.A. 785 3.8 United Kingdom other non-metal Company Kingdom cement (Chełm) goods Limited
manufacture of manufacture rusks and biscuits; of food, drinks 786 Dan Cake A/S 3.8 Denmark Denmark manufacture of Dan Cake Sp. z o. o. (Chrzanów) and tobacco preserved pastry products goods and cakes
Messe Dusseldorf other business Messe Dusseldorf Polska Sp. z o. o. 787 3.8 Germany Germany real estate GmbH activities n.e.c (Warsaw)
manufacture of Hans Grohe Hans Grohe Sp. z o. o. (Tarnowo 788 3.7 Germany Germany machinery and sanitary equipment International Podgórne) equipment
manufacture of Miebach Projekt 80% stake in Cementownia Odra S.A. 789 3.7 Germany Germany other non-metal cement production GmbH (Opole) goods
manufacture of Hilding Polska Sp. z o. o. (Murowana 790 DreamLand 3.6 Denmark Denmark furniture and furniture production Goślina) consumer goods
trade and sale of motor vehicle 791 BMW Group 3.6 Germany Germany BMW Polska Sp. z o. o. repairs parts and accessories
68 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture of A/S Roulunds production of 80% stake in Fabryka Okładzin Ciernych 792 3.6 Denmark Denmark other non-metal Fabriker abrasive products Fomar Roulunds S.A. goods
manufacture of manufacture of plaster products 793 Uzin UTZ AG 3.6 Germany Germany other non-metal Uzin Polska Sp. z o. o. (SEZ Legnica) for construction goods purposes
community, United social and motion picture 794 3.5 USA USA “Atomic Świat Rozrywki” (Kraków) Entertainment personal projection services
courier activities transport and TNT Express Worldwide 795 TNT Post Group 3.5 Australia Australia other than national storage Poland Sp. z o. o. (Warsaw) post activities
wholesale trade in 796 Stora AB 3.5 Sweden Sweden wholesale trade Papyrus Sp. z o. o. (Poznań) paper products
manufacture of manufacture 85% of shares of Otor Silesia S.A. pulp and paper, 797 OTOR 3.5 France France of paper and (Tychy), formerly Śląskie Zakłady publishing and paperboard Papiernicze SILESIANPAP printing
International manufacture 798 Ducatel 3.5 France France of fabrics and cotton-type weaving 51% of shares of Poltex (Łódź) Development textiles
manufacture Hanyang Republic of Republic of of rubber manufacture of 799 Precision Co. 3.5 Hanyang Sp. z o. o. (Świdnik) Korea Korea and plastics; rubber components Ltd. automotive
hotels and PizzaExpress Polska Sp. z o. o. 800 Ceneu Pizza BV 3.5 Netherlands Netherlands restaurants restaurants (Piaseczno)
manufacture Caribbean United of food, drinks manufacture of 85% stake in Polmos Łańcut S.A. 801 Distillers 3.5 United Kingdom Kingdom and tobacco vodka (Łańcut) Corporation Ltd. products
manufacture Budzinsky + Hor 85% of shares of wool factory 802 3.5 Germany Germany of fabrics and manufacture of wool GmbH + Co POLPLED Sp. z o. o. (Białystok) textiles
CapGemini Polska Sp. z o. o. (Warsaw), business and BPO Center in Kraków, Nearshore business management 803 Capgemini S.A. 3.5 France France Center in Wrocław, Information activities consultancy Technology Outsourcing Center in activities Kraków
manufacture manufacture of of chemicals 804 Kemira Kemi AB 3.5 Sweden Sweden other inorganic basic 51% stake in Kemipol Sp. z o. o. (Police) and chemical chemicals products
manufacture of manufacture of other 805 Trepko A/S 3.5 Denmark Denmark machinery and general purpose Trepko Sp. z o. o. (Gniezno) equipment machinery n.e.c.
TPM Transforma installation of TEM Transforma Elektromontaż S.A. 806 Projekt 45,0 Germany Germany construction electrical wiring and (Katowice) Management fittings GmbH
69 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) Metallurgica forging, pressing, manufacture Assemblaggi stamping and roll stake in Zakłady Wyrobów Metalowych 807 3.4 Italy Italy of metals and Carpenterie forming of metal; SHL S.A. (Kielce) metal products (MAC) SpA powder metallurgy
trade and sale of motor vehicle 808 IVECO N.V. 3.4 Netherlands Netherlands IVECO Poland Sp. z o. o. (Warsaw) repairs parts and accessories
GiroCredit Bank financial 40% stake in Erste Securities Polska 809 3.4 Austria Austria banking AG intermediation S.A. (Warsaw)
BM Industria manufacture rubber car 810 Bergamasca 3.4 Italy Italy of rubber and components BM Polska Sp. z o. o. (Kwidzyń) Mobili plastics production
manufacture Sara Lee D/E Bama Polska Sp. z o. o. (Gorzów 811 3.4 Netherlands Netherlands of leather and footwear production N.V. Wielkopolski) leather products
Franke manufacture manufacture of other Franke Polska Sp. z o. o. (Nowy Sękocin, 812 Deutschland 3.4 Germany Germany of metals and fabricated metal Franke-Gastopol Sp. z o. o. (Gdynia) Holding GmbH metal products products n.e.c.
Baumann Mostostal Sp. z o. o. (Siedlce), Baumann - Mostostal Montaż Sp. z o. o. Altrad- other construction (Siedlce), Rusztowania Baumann 813 Baumann 3.3 Germany France construction work involving Mostostal Sp. z o. o. (Końskie), GmbH special trades Prymat Sp. z o. o. (Dzierżoniów), Pomorze Baumann Mostostal Sp. z o. o. (Szczecin)
manufacture manufacture KS Holding of chemicals 814 3.3 Switzerland Switzerland of products for Swisspor Polska Sp. z o. o. (Chrzanów) Hergiswil AG and chemical construction market products
manufacture manufacture of BACKER 815 3.3 Sweden Sweden of metals and central heating Backer OBR Sp. z o. o. (Pyrzyce) BHV AB metal products radiators and boilers
electricity, Fortum Power steam and hot water 85% stake in Fortum Częstochowa S.A. 816 3.3 Finland Finland gas and water and Heat OY supply (Częstochowa) supply
manufacture Wavin plastic packaging 817 3.2 Netherlands Netherlands of rubber and Wavin Trepak Poland (Bytom) Trepak BV production plastics
manufacture manufacture of other 818 Nibco Inc. 3.2 USA USA of rubber and Nibco Sp. z o. o. (Łódź) plastic products plastics
manufacture of electrical manufacture of “CHIFA” Sp. z o. o. (Nowy Tomyśl, 819 Aesculap AG 3.2 Germany Germany machinery and medical equipment Wielkopolskie Voivodship) apparatus
architectural and engineering SFS INTEC business 820 3.2 Switzerland Switzerland activities and SFS Intec Sp. z o. o. (Poznań) HOLDING AG activities related technical consultancy
PROGRESS Technology 821 and Holdings 3.2 Netherlands Netherlands transport, telecommunications TTcomm S.A. (Warsaw) International storage and B.V. communication
70 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture of ADO manufacture made-up textile 822 Gardinenwerke 3.2 Germany Germany of fabrics and ADO Sp. z o. o. – factory in Legnica articles, except GmbH & co. KG textiles apparel
Kingspan manufacture manufacture of Kingspan Sp. z o. o. (Lipsko, 823 Holding 3.2 Netherlands Ireland of rubber and plastic plates, sheets, Mazowieckie Voivodeship) Netherlands BV plastics tubes and profiles
Stadtwerke power, gas and Zakłady Energetyki Cieplnej Sp. z o. o. 824 3.1 Germany Germany steam supply Leipzig GmbH water supply (Tczew)
manufacture of chemicals cosmetics Przedsiębiorstwo Zagraniczne 825 Catzy 3.1 Sweden Sweden and chemical production Catzy Sp. z o. o. (Wesoła near Warsaw) products
manufacture manufacture of United of electrical Arcon Industrial Service 826 Arcon 3.1 United Kingdom industrial process Kingdom machinery and Corporation Sp. z o. o. (Warsaw) control equipment apparatus
manufacture manufacture of 827 Scania CV AB 3.1 Sweden Sweden of transport Scania Production Słupsk S.A. (Słupsk) motor vehicles equipment
manufacture production and of food, drinks 49.04% stake in Drobimex Sp. z o. o. 828 Lohmann AG 3.0 Germany Germany preserving of and tobacco (Szczecin) poultrymeat products
manufacture production and Paul Wesjohann of food, drinks 48.63% stake in Drobimex Sp. z o. o. 829 3.0 Germany Germany preserving of & Co. GmbH and tobacco (Szczecin) poultrymeat products
Elanders publishing and 830 3.0 Sweden Sweden printing Elanders Polska Sp. z o. o. (Płońsk) Infoprint AB printing
manufacture Voigt & 75% of shares of Ocynkownia 831 3.0 Germany Germany of metals and zinc production Schweitzer Pokój Sp. z o. o. metal products
manufacture of Scanwood Sp. z o. o. (Mierzyn Shiptrans manufacture of 832 3.0 Denmark Denmark furniture and near Szczecin), Scanwood (Dębno), Holding A/S furniture consumer goods Scanwood (Słońsk)
development and Centrum Handlowo-Biurowe Saspol 833 Saspol 3.0 Turkey Turkey real estate selling of real estate (Łódź)
publishing Pentor market research co-owner of Warsaw Voice, Uroda, and printing, 834 Communication 3.0 USA USA and public opinion Instytut Badania Opinii Publicznej media, business International polling Pentor, Pentor Film activities
manufacture of pulp and paper, production of 835 Neupack GmbH 3.0 Austria Austria Neupack Polska Sp. z o. o. (Bydgoszcz) publishing and packaging printing
manufacture of electrical manufacture of Maco Pharma Polonia Sp. z o. o. 836 MacoPharma 3.0 France France machinery and medical equipment (Poznań) apparatus
Kochloeffel hotels and 837 3.0 Germany Germany restaurants Kochloeffel Polska Sp. z o. o. (Katowice) GmbH restaurants
71 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) wholesale of hardware, plumbing 838 Herz 3.0 Austria Austria wholesale trade and heating “Herz Armatura i Systemy Grzewcze” equipment and supplies
Feu Vert Polska Sp. z o. o. (Warsaw), trade and sale of motor vehicle 839 Feu Vert S.A. 3.0 France France Feu Vert Auto Centrum (Warsaw, repairs parts and accessories Szczecin, Katowice, Łódź)
media and 59.4% stake in Fincast Sp. z o. o. 840 Eurocast Italia 3.0 Italy Italy television activities entertainment (Warsaw)
trade and retail sale of sports 841 Decathlon S.A. 3.0 France France Decathlon Sp. z o. o. (Warsaw) repairs articles
manufacture of parts and accesories for 842 CF Gomma SpA 3.0 Italy Italy automotive CF Gomma Sp. z o. o. (Częstochowa) motor vehicles and their engines
Central manufacture manufacture of basic European 74% stake in Slag Recycling Sp. z o. o. 843 3.0 USA USA of metals and iron and steel and of Recovery (Kraków) metal products ferro-alloys Holdings LP
manufacture of parts manufacture and accessories for Caterpillar Poland Sp. z o. o. (Janów 844 Caterpillar Inc. 3.0 USA USA of transport motor vehicles and Lubelski) equipment their engines
general construction of buildings and 845 Bougues 3.0 France France construction Bougues Polska S.A. (Warsaw) civil engineering works
network of shoe 846 Bata Shoes 3.0 Canada Canada retail trade Bata Poland Ltd. (Warsaw) stores
architectural community, and engineering Ensto Aspol Sp. z o. o. (Gdańsk), branch ENSTO social and 847 3.0 Finland Finland activities and offices in Kraków, Łódź, Poznań, SEKKO OY personal related technical Warsaw services consultancy
99.28% stake in Zakłady Mięsne Morliny manufacture S.A. (Ostróda, Warmińsko-Mazurskie Campofrio production of meat of food, drinks Voivodship), PUH Transport – Morliny 848 Alimentacion 3.0 Spain Spain and poultrymeat and tobacco Sp. z o. o. (Morliny), PHU Detal- S.A. products products Morliny Sp. z o. o. (Morliny), Rawena- Morliny S.A.
manufacture processing and of food, drinks Polfrys Sp. z o. o. (Świdwin, 849 POLARICA AB 3.0 Sweden Sweden preserving of fruit and tobacco Zachodniopomorskie Voivodeship) and vegetables n.e.c. products
manufacture Greiner Perfoam of chemicals manufacture of Greiner Perfoam Sp. z o. o. (Ozorków, 850 3.0 Austria Austria GmbH and chemical polymer foam Łódzkie Voivodeship) products
designing and production of 851 DÜRR GmbH 3.0 Germany Germany automotive transportation Durrpol Sp. z o. o. – factory in Radom systems for automotive section
72 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) community, sewage and refuse SaurInternatio- social and 51% of shares of Saur Neptun 852 2.9 France France disposal, sanitation nal personal Gdańsk S.A. (Gdańsk) and similar activities services
manufacture of parts and accessories for 853 Leca 2.9 USA USA automotive investment in Katowice SEZ motor vehicles and their engines
extraction and “Hollas” Sp. z o. o. (Pasłęk), 854 Holdes NV 2.9 Belgium Belgium agriculture agglomeration of “Andrilla” Sp. z o. o. (Warsaw) peat
manufacture Friedrich of food, drinks Baltic Malt Sp. z o. o. (Gdańsk) – malt 855 Weissheimer 2.9 Germany Germany manufacture of malt and tobacco production plant in Gdańsk Maltzfabrik KG products
Alliance Capital Management financial other financial “Przymierze” Towarzystwo Funduszy 856 2.9 USA USA Corporation of intermediation services Powierniczych S.A. (Warsaw) Delaware
manufacture of veneer sheets; manufacture manufacture Polfurnitur Sp. z o. o., Polfurpress Veneer Design of wood of plywood, 857 2.9 Netherlands Netherlands Sp. z o. o. (Białośliwie, Wielkopolskie International and wooden laminboard, particle Voivodeship) products board, fibre board and other panels and boards
Heye-Fabryka Form Szklarskich Sp. z o. o. manufacture of manufacture of other Heye Holding (Pieńsk, Dolnośląskie Voivodship), 858 2.8 Germany Germany machinery and special purpose GmbH Fabryka Urządzeń Przemysłowych equipment machinery n.e.c. Sp. z o. o. (Poznań)
manufacture of manufacture of 75% of shares of Wytwórnia Pomp 859 Valfond 2.8 France France machinery and hydraulic pumps Hydraulicznych S.A. (Wrocław) equipment
transport, Twentshe Kabel C & C Partners Telecom Sp. z o. o. 860 2.8 Netherlands Netherlands storage and telecommunications Holding (Leszno) communication
manufacture of electrical cable and wiring Sylea Poland Sp. z o. o. (Czechowice- 861 Sylea Italia Srl 2.8 Italy Italy machinery and manufacturer Dziedzice) apparatus
transport and 862 Spedimpex 2.8 Germany Germany logistic activity logistics center in Łódź storage
retail sale in non- specialized stores 863 Harris 2.8 Austria Austria retail trade with food, beverages PHU Domar S.A. (Łódź) or tobacco predominating
manufacture Europar-Ven production of of food, drinks 864 Company 2.8 Liechtenstein Liechtenstein mineral waters and Eurovita Sp. z o. o. (Poznań) and tobacco Establishment soft drinks products
Cartotechniche publishing and Cartotecnica Polska (formerly Zakłady 865 Chierese e 2.8 Italy Italy printing printing Poligraficzne in Katowice) Tiferante
73 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) development and 866 BST 2.8 Israel Israel real estate Asbud Piaseczno Sp. z o. o. selling of real estate
other retail sale in TAEPPELAND Topwert Świat Dywanów Sp. z o. o. 867 2.8 Denmark Denmark retail trade non-specialized HOLDING A/S (Janki) stores
retail sale of medical 868 AxMeditec AB 2.8 Sweden Sweden trade and and orthopaedic AxMediTec Sp. z o. o. (Białystok) repairs goods
manufacture C.E.M.O.M. manufacture of 869 2.7 France France of metals and 51% Pol-Soft Sp. z o. o. (Złotów) – MOATTI locks and hinges metal products
manufacture of parts and accessories for 20% stake in TBMECA Poland Sp. z o. o. 870 DENSO 2.7 Japan Japan automotive motor vehicles and (Legnica) their engines
manufacture Terravita of food, drinks production and 871 Holding 2.7 Liechtenstein Liechtenstein and tobacco distribution of Terravita Sp. z o. o. (Poznań) Establishment products; sweets wholesale trade
Sicpa manufacture Commercial Inks of chemicals manufacture of 872 2.7 Luxembourg Luxembourg Sicpa Polska Sp. z o. o. (Marki) Holding (Lux) and chemical paints S.A. products
software QAD Europe business QAD Polska Sp. z o. o. (Wrocław, 873 2.7 Netherlands Netherlands consultancy and B.V activities Elbląg) supply
construction of Strada Sp. z o. o. (Środa Wielkopolska), highways, roads, 874 Colas S.A. 2.7 France France construction Pribek Sp. z o. o. (Koszalin), PDB airfields and sport Palędzie (Palędzie) facilities
manufacture manufacture of wire 875 Bekaert NV 2.7 Belgium Belgium of metals and Bekaert - Kotlarnia Sp. z o. o.(Kotlarnia) products metal products
manufacture manufacture of B.I.P. Byars Industries Poland Sp z o. o. 876 Adrenatio 2.7 Germany Germany of rubber and plastic packing (Reginów) plastics goods
manufacture manufacture of Mitsui & Co. 877 2.7 Germany Japan of rubber and rubber tyres and 15% stake in TRI Poland Sp. z o. o. Deutschland plastics tubes
retail sale of furniture, lighting trade and 878 Hagemeyer N.V. 2.7 Netherlands Netherlands equipment and EL-Centrum S.A. (Poznań) repairs household articles n.e.c.
retail sale of GE Power furniture, lighting trade and 879 Controls 2.6 Belgium Belgium equipment and EL-Centrum S.A. (Poznań) repairs Belgium BVBA household articles n.e.c.
manufacture Conrad Jacobson of food, drinks production and 11.48% stake in “Sokołów” S.A. 880 2.6 Germany Germany GmbH and tobacco preserving of meat (Sokołów Podlaski) products
74 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) Sven von der hotels and hotels and motels, Von der Heyden Group Sp. z o. o. 881 2.6 Germany Germany Heyden restaurants with restaurant (Warsaw)
manufacture rubber car SAIAG Polska Sp. z o. o. 882 SAIAG SpA 2.6 Italy Italy of rubber and components (Piotrków Trybunalski) plastics production
manufacture manufacture of Metzeler Automotive Profile Systems 883 Metzeler Italy 2.6 Italy Italy of rubber and rubber tyres and Piotrków Sp. z o. o. (Piotrków plastics tubes Trybunalski)
Grossmann car components Grossmann Polska Sp. z o. o. 884 2.6 Germany Germany automotive GmbH production (Wałbrzych SEZ)
manufacture Egis of chemicals pharmaceuticals Przedsiębiorstwo Farmaceutyczne 885 Pharmaceuticas 2.6 Hungary Hungary and chemical production Anpharm S.A. (Warsaw) Ltd products
Bioconsult Polska Sp. z o. o., Bioconsult municipal environmental 886 Bioconsult SpA 2.6 Italy Italy 2000 Sp. z o. o. (Łódź), Ecoconsult services protection, recycling Szczecin
manufacture of food, drinks manufacture of 887 Bagdasarian 2.6 Russia Russia Śnieżka S.A. (Świebodzice) and tobacco sugar confectionery products
wholesale and retail sale of 888 Adidas AG 2.6 Germany Germany Adidas Poland Sp. z o. o. (Warsaw) retail trade footwear
manufacture production of car Bitron 889 2.6 Luxembourg Luxembourg of transport parts and consumer Bitron Polska Sp. z o. o. International SA equipment electronics
manufacture of manufacture of ceramic insulators Argillon Polska Sp. z o. o. - factory in 890 Argillon GmbH 2.6 Germany Germany other non-metal and insulating Jedlina Zdrój (Dolnośląskie Voivodeship) goods fittings
trade and distribution of 39% stake in Brenntag Polska Sp. z o. o. 891 Neuber GmbH 2.6 Austria Austria repairs chemicals (Kędzierzyn Koźle)
manufacture manufacture of Litpol Sp. z o. o. (Suwałki), Malow 892 Innolink S.A. 2.6 Switzerland Switzerland of metals and metal furnitures Sp. z o. o. (Suwałki) metal products
manufacture of parts DAICEL and accessories for Daicel Safety Systems Europe Sp. z o. o. 893 CHEMICAL 2.6 Japan Japan automotive motor vehicles and (Wałbrzych) INDUSTRY LTD their engines
mining and Gwarex Holdings United mining and 894 2.5 United Kingdom agglomeration of Gwarex Polska Sp. z o. o. (Katowice) Limited Kingdom quarrying hard coal
Scandia Leben financial 895 2.5 Germany Germany life insurance 98% stake in Skandia Życie S.A. Holding GmbH intermediation
manufacture processing and Natel of food, drinks McLean Brothers Poland Sp. z o. o. 896 2.5 Netherlands Netherlands preserving of fish Investment BV and tobacco (Szczecin) and fish products products
manufacture of manufacture of Kongskilde 897 2.5 Denmark Denmark machinery and machinery for Kongskilde Polska Sp. z o. o. (Kutno) Industries A/S equipment agriculture
75 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture Gustav F. W. of food, drinks manufacture of 34.1% stake in Zakłady Przemysłu 898 Hamester 2.5 Germany Germany and tobacco sugar confectionery Cukierniczego Wawel S.A. (Kraków) GmbH&Co products
manufacture of Czech 899 Glavunion 2.5 Czech Republic other non-metal glass production Wiglav Sp. z o. o. (Falenica) Republic goods
other business architecture and 900 Gestion Max 2.5 Canada Canada ECO ABC Sp. z o. o. (Bełchatów) activities engineering
Finanziaria manufacture production of cotton Mobiliare 901 2.5 Italy Italy of fabrics and and mixed open end Suma Sp. z o. o. (Zielona Góra) Immobiliare di textiles yarn Pollone
retail sale in non- specialized stores PHU Robert Sp. z o. o. (Warsaw) 902 Docks de France 2.5 France France retail trade with food, beverages – supermarket chain or tobacco predominating
Chase EU financial security broking and 903 2.5 USA USA Robert Fleming Polska S.A (Warsaw) Holding Ltd intermediation fund management
45% stake in Volvo Bus Poland Sp. z o. o. 904 Carrus 2.5 Finland Finland automotive bus assembly (Wrocław)
Import and sale of Nissan Polska Sp. z o. o. (Warsaw), trade and 905 Marubeni Co. 2.5 Japan Japan Nissan brand car and Marubeni Construction Machinery repairs spare parts Poland S.A. (Warsaw)
manufacture manufacture of TEKNOPROD of electrical 906 2.5 Sweden Sweden insulated wire and Teknosystem Sp. z o. o. (Warsaw) AB machinery and cable apparatus
manufacture manufacture of other 907 BOOG B.V. 2.5 Netherlands Netherlands of rubber and Bianor Sp. z o. o. (Białystok) plastic products plastics
manufacture dressing and dyeing De’ Medici Europe KZF Kraków Sp. z o. o. 908 GUALFIN AG 2.5 Liechtenstein Liechtenstein of fabrics and of fur; manufacture (Kraków) textiles of articles of fur
manufacture forging, pressing, Eurodec 909 2.5 France France of metals and stamping and roll Poldec Sp. z o. o. (Radom) Industries metal products forming of metal
Hokim manufacture of manufacture of 42.1% stake in Cementownia 910 Auslandbeteili- 2.4 Germany Germany other non-metal cement, lime and Wejherowo Sp. z o. o. (Wejherowo) gungs GmbH goods plaster
manufacture of manufacture of machinery for 911 DBT GmbH 2.4 Germany Germany machinery and DBT Polska Sp. z o. o. (Mysłowice) mining, quarrying equipment and construction
manufacture general mechanical 912 Necks Invest AB 2.4 Sweden Sweden of metals and Pol-Necks Sp. z o. o. (Toruń) engineering metal products
76 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture of glass and glass products: Industry Service manufacture of manufacture of flat Marketing Fassaden Glas Technik Polska Sp. z o. o. 913 2.4 Liechtenstein Liechtenstein other non-metal glass; manufacture Corporation (Ozorków) goods of glass fibres; (ISM) production of abrasive products
forging, pressing, manufacture stamping and roll Zakłady Wyrobów Metalowych “SHL” 914 Delfo SpA 2.4 Italy Italy of metals and forming of metal; S.A. (Kielce) metal products powder metallurgy
trade and building materials 915 Ardutch BV 2.4 Netherlands Netherlands Beko Polska S.A. (Piaseczno) repairs sale
general construction of buildings and 916 LLENTAB AB 2.4 Sweden Sweden construction Llentabhallen Sp. z o. o. (Gdańsk) civil engineering works
manufacture Union Knopf manufacture of other 917 2.3 Germany Germany of rubber and Union Knopf Polska Sp. z o. o. (Turek) GmbH plastic products plastics
Lesaffre bio-corporation Sp. z o. o. manufacture (Wołczyn), Advanced Biotechnologies 918 Lesaffre Group 2.3 France France of food, drinks manufacture of yeast Corporation Sp. z o. o. (Warsaw), and tobacco Pomorska Fabryka Drożdży Polmos S.A. products (Tczew)
manufacture of parts manufacture Was and accesories for Was Wietmarscher Polska 919 2.3 Germany Germany of transport Wietmarscher motor vehicles and (Lubicz Dolny near Toruń) equipment their engines
installation of 920 Sirti 2.3 Italy Italy construction electrical wiring and Sirti Polska Sp. z o. o. (Warsaw) fittings
general construction International of buildings and International Trading and Investment 921 Trading & 2.3 Luxembourg Luxembourg construction civil engineering Poland S.A. (Warsaw) Investment works
trade and other non-store retail 922 Sodexho Alliance 2.3 France France Sodexho Polska Sp. z o. o. (Warsaw) repairs sale
Spedition Trade transport, activities of other Przedsiębiorstwo Spedycyjne Trade 923 Trans Holding 2.2 Austria Austria storage and transport agencies Trans Sp. z o. o. (Warsaw) GmbH communication
Sanchez computer 924 Computer 2.2 USA USA software production stake in ELBA CSB technology Associates
manufacture manufacture of 52% stake in Rauschert-Elektrim of electrical 925 Rauschert 2.2 Germany Germany lighting equipment Sp. z o. o. (Mysłakowice, Dolnośląskie machinery and and electric lamps Voivodship) apparatus
Avag Investments Sp. z o. o. (Warsaw), Avag Holding trade and 926 2.2 Germany Germany sale of motor vehicle Auto Żoliborz (Warsaw), Auto Praga AG repairs (Warsaw)
Severt manufacture manufacture of 927 Machinenbau 2.2 Germany Germany of metals and metals and nietal Severt Polska Sp. z o. o. (Rzeszów) GmbH metal products products
77 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) labour recruitment United business IMC Polska Sp. z o. o. (Warsaw), IMC 928 IMC Consulting 2.1 United Kingdom and provision of Kingdom activities Kariera Sp. z o. o. (Warsaw) personnel
manufacture Dallas 929 2.1 Turkey Turkey of fabrics and clothing production Dallas International (Wałbrzych SEZ) International textiles
Best Eastern 22% stake in Best Eastern Plaza Hotels S.A. hotels and hotels and motels, 930 Plaza Hotels 2.1 Luxembourg Luxembourg (Warsaw), HP Park (Poznań, Olsztyn), restaurants with restaurant International HP Park Plaza (Wrocław)
PPH Styrpol Sp. z o. o. (Biskupiec, manufacture manufacture of SCHWENK Warmińsko-Mazurskie Voivodeship), 931 2.1 Germany Germany of rubber and plastic plates, sheets, DAMMTECHNIK factory in Cięciwa - Mazowieckie plastics tubes and profiles Voivodeship
manufacture Johan van of food, drinks production and 932 2.0 Netherlands Netherlands Agro-Bor Louisa Sp. z o. o. (Kostrzyn) Leendert B.V. and tobacco preserving of meat products
manufacture Herco manufacture of wire 933 2.0 United Kingdom Belgium of metals and Herco Sp. z o. o. (Rawa Mazowiecka) International products metal products
manufacture processing and United of food, drinks 934 Uniq plc 2.0 United Kingdom preserving of fish Lisner Sp. z o. o. (Poznań) Kingdom and tobacco and fish products products
general construction Sidney of buildings and Kan-Bud Sp. z o. o. (Kąkolewo near 935 2.0 Canada Canada construction Braaksma civil engineering Leszno) works
manufacture Schwarz of chemicals Schwarz Pharma Poland Sp. z o. o. 936 2.0 Germany Germany pharmaceuticals Pharma AG and chemical (Warsaw) products
manufacture precision of electrical Landis + Gyr (Polska) Sp. z o. o. 937 Landis + Gyr 2.0 International International engineering and machinery and (Warsaw) optics apparatus
manufacture of manufacture of other KWW Ooachium pulp and paper, 938 2.0 Germany Germany articles of paper and Verp Folie Wrocław (Mrozów) Baumann KG publishing and paperboard n.e.c. printing
Ascot Auto (Warsaw), I.C. Automobile sale of motor 939 Itochu Corp. 2.0 Japan Japan wholesale trade Poland Sp. z o. o. (Warsaw), Itochu vehicles Polska Sp. z o. o. (Warsaw)
Industrial general construction Quimica del of buildings and Industrial Quimica del Nalón S.A. 940 2.0 Spain Spain construction Nalón Polonia civil engineering (Warsaw) S.A. works
manufacture IFS Industrial production of of electrical IFS Poland Sp. z o. o. (Warsaw and 941 and Financial 2.0 Sweden Sweden software, sales and machinery and Kraków) Systems AB inventory apparatus
manufacture of manufacture of Horstmann Budowa Urządzeń i Technika 942 Horstmann 2.0 Germany Germany machinery and technological lines Ekologiczna Sp. z o. o. equipment for waste treatment
78 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture Henne County 943 2.0 Germany Germany of fabrics and clothing production Perpol Sp. z o. o. (Łódź) Mode GmbH textiles
power, gas and combined heat plant (Łęgajnie, 944 Hedeselskabet 2.0 Denmark Denmark steam supply water supply Warmińsko-Mazurskie Voivodship)
Hafele Holding trade and 95% stake in Hafele Polska Sp. z o. o. 945 2.0 Germany Germany sale of furniture GmbH repairs (Długołęka)
manufacture of Gyproc 946 2.0 Belgium Belgium other non-metal gypsum production Nida Gips Sp. z o. o. (Warsaw, Pińczów) Benelux S.A. goods
Przedsiębiorstwo Handlowo-Produkcyjne Flt-Matall trade and Mercus Sp. z o. o. (Polkowice), PH 947 2.0 Germany Germany other wholesale GmbH repairs Mercus Serwis Sp. z o. o. (Lublin), PHU Lubinpex Sp. z o. o. (Lublin)
Flair manufacture of production and Polstermoebel 31.98% shares in Flair Poland Sp. z o. o. 948 2.0 Germany Germany furniture and distribution of GmbH and Co (Kobylnica near Słupsk) consumer goods furniture KG
Cosmar Polska Sp. z o. o., Nord Sp. z o. o., Financial development and 949 2.0 Italy Italy real estate Diana Development Sp. z o. o., Dueerre Holding FHF selling of real estate Polska Sp. z o. o.
manufacture of manufacture television and radio of electrical transmitters and Ericsson Sp. z o. o. (Warsaw), 19.23% 950 Ericsson 2.0 Sweden Sweden machinery and apparatus for line stake in RWT Telefony Polskie S.A. apparatus telephony and line telegraphy
manufacture of manufacture of Dryvit Systems USA (Europe) Sp. z o. o. 951 Dryvit Systems 2.0 USA USA other non-metal builiding materials – factory near Skierniewice goods
manufacture 16.5% stake in Laboratorium of chemicals pharmaceuticals 952 David Minot 2.0 USA USA Frakcjonowania Osocza Sp. z o. o. and chemical production (EURO-PARK Mielec SEZ) products
manufacture manufacture of of food, drinks Danish Fast bread; manufacture 953 2.0 Denmark Denmark and tobacco Dania Fast Food Sp. z o. o. (Warsaw) Food of fresh pastry goods products; retail and cakes trade
manufacture manufacture of 954 Corus 2.0 International International of metals and builders’ carpentry Corus Polska Sp. z o. o. metal products and joinery of metal
manufacture of chemicals pharmaceuticals Apotex Inc. Korporacja, 955 Apotex Inc. 2.0 Canada Canada and chemical production Przedstawicielstwo w Polsce (Warsaw) products
manufacture processing and of food, drinks Frubella Processing Sp. z o. o. 956 GIF SRL. 2.0 Italy Italy preserving of fruit and tobacco (Białobrzegi) and vegetables products
CH2M Hill business computer and CH2M Hill Polska Ltd. Sp. z o. o. 957 International 2.0 USA USA activities related activities (Kraków) Inc.
79 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture production of IBM Central of electrical 958 2.0 Germany USA software, sales and IBM Polska Sp. z o. o. (Warsaw) Holding GmbH machinery and inventory apparatus
Kurhssishe manufacture of Gipswerke Peter manufacture of plaster products Orth-Gipse Polska Sp. z o. o. (Jaworzno, 959 2.0 Germany Germany Orth GmbH & other non-metal for construction Śląskie Voivodeship) Co. KG goods purposes
manufacture of parts and accessories for 960 ArvinMeritor 2.0 USA USA automotive ArvinMeritor Sp. z o. o. (Swarzędz) motor vehicles and their engines
manufacture ELAPLAST manufacture of other Elaplast Technik GmbH Sp. z o. o. 961 1.9 Germany Germany of rubber and Technik GmbH plastic products (Kutno) plastics
manufacture M.C. Building of chemicals manufacture of 962 Chemicals 1.9 Ireland Ireland MC-Bauchemie Sp. z o. o. and chemical glues and gelatines Mueller&Partners products
trade and 963 Vorwerk 1.9 Switzerland Switzerland sale of carpets Vorwerk Polska Sp. z o. o. (Wrocław) repairs
retail sale of NET 5 trade and electrical household 964 Investment 1.9 Luxembourg Luxembourg 5. net S.A. (Warsaw) repairs appliances and radio S.a.r.l. and television goods
transport and 965 Clement 1.9 France France logistic activity Clement Polska Sp. z o. o. (Łódź) storage
Cigna Global financial 966 1.9 USA USA life insurance Cigna Stu, Cigna Stu Życie Holdings Inc intermediation
manufacture processing and of food, drinks O.K. Owocowe Koncentraty Sp. z o. o. 967 Bauer Peter 1.9 Germany Germany preserving of fruit and tobacco (Przeworsk) and vegetables n.e.c. products
Actaris trade and 968 Gazzahlerbau 1.9 Germany Germany other wholesale Actaris Polska Sp. z o. o. (Kraków) repairs GmbH
general construction of buildings and 969 CFE Netherland 1.9 Netherlands Netherlands construction CFE Polska Sp. z o. o. (Warsaw) civil engineering works
Stanley International Holdings Inc. manufacture producing of tools (Warsaw), Narzędzia Stanley Polska 970 Stanley Works 1.8 USA USA of metals and for forestry and Sp. z o. o. (Sułkowice, Małopolskie metal products gardening Voivodship)
manufacture of machinery for the Lignum manufacture of production and Technologie 971 1.8 Germany Germany machinery and use of mechanical IMA Polska Sp. z o. o. (Środa Wlkp.) Aktiengesell- equipment power, except schaft aircraft, vehicle and cycle engines
manufacture of General Beton 972 1.8 Italy Italy other non-metal concrete production General Beton Polska Sp. z o. o. (Łódź) Triveneta SpA goods
80 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture of Assman Polska Sp. z o. o. (Warsaw) 973 Assman GmbH 1.8 Germany Germany furniture and furniture production – factory in Iłowo near Mława consumer goods
manufacture of manufacture AEG electronic valves of electrical stake in “Mikołowska Fabryka 974 Aktiengesell- 1.8 Germany Germany and tubes and machinery and Transformatorów” Mefta S.A. schaft other electronic apparatus components
manufacture of manufacture of 975 Holmatro N.V 1.8 Netherlands Netherlands machinery and lifting and handling Holmatro Polska Sp. z o. o. (Zielonka) equipment quipment
manufacture of manufacture of Toho Industrial bearings, gears, Toho Poland Sp. z o. o. (Radom, SEZ 976 1.8 Japan Japan machinery and Co. Ltd. gearing and driving Tarnobrzeg) equipment elements
manufacture Inline Plastics plastic packaging 977 1.8 USA USA of rubber and Inline Poland Sp. z o. o. (Poznań) Corporation production plastics
manufacture Alfort Kemtech manufacture of Stargard Borst Sp. z o. o. (Stargard 978 1.8 Sweden Sweden of consumer AB brooms and brushes Szczeciński) products
wholesale of other WANZL machinery for use in 979 Metallwaren- 1.7 Germany Germany retail trade WANZL Sp. z o. o. (Nadarzyn) industry, trade and fabrik GmbH navigation
manufacture Indian Food of food, drinks Okręgowa Spółdzielnia Mleczarska 980 1.7 USA USA dairy processing Company and tobacco (Ciechanów) products
trade and service FUJI PHOTO 981 1.7 Germany Japan retail trade of photographic Fujifilm Polska Sp. z o. o. (Warsaw) (Europe) equipment
manufacture of electrical quality control 982 Elbicon 1.7 Belgium Belgium “Visitronics” Sp. z o. o. (Warsaw) machinery and automation apparatus
manufacture DiverseyLever of chemicals cosmetics JOHNSON Diversey Sp. z o. o. 983 1.7 Netherlands Netherlands Holdings B.V and chemical production (Warsaw) products
manufacture manufacture of Valmont 984 1.7 USA USA of metals and metal structures and Valmont Polska Sp. z o. o. (Siedlce) Industries Inc. metal products parts of structures
ThyssenKrupp trade and ThyssenKrupp Aplex Plastics Sp. z o. o. 985 1.7 Germany Germany other wholesale Services AG repairs (Pruszków)
architectural real estate and engineering Democo Poland Democo Poland Sp. z o. o. (Tarnowo 986 1.6 Belgium Belgium and business activities and Sp. z o. o. Podgórne, Wielkopolskie Voivodeship) activities related technical consultancy
manufacture manufacture of other Danish Partner 987 1.6 Denmark Denmark of fabrics and wearing apparel and Danipol Sp. z o. o. - factory in Polkowice ApS textiles accessories
81 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture processing and Lannen of food, drinks 988 1.6 Finland Finland preserving of fruit Lannen Polska Sp. z o. o. (Tolkmicko) Tehtaat OY and tobacco and vegetables n.e.c. products
retail sale of electrical household Elektroland, Brabork Sp. z o. o. 989 Regis Rouselle 1.6 France France wholesale trade appliances and radio (Warsaw) and television goods
manufacture Lothar 990 1.6 Germany Germany of fabrics and clothing production Pabia S.A. (Pabianice) Radomski textiles
manufacture Hans Hoell of food, drinks “Hoell-Pol” Zakład Mięsny Sp. z o. o. 991 Fleischwarenfa- 1.6 Germany Germany production of meat and tobacco (Kaszczor) brik AG, Co KG products
manufacture of Borgestad manufacture of fire- Gliwickie Zakłady Materiałów 992 1.6 Norway Norway other non-metal Fabrikker A/S proof materials Ogniotrwałych Sp. z o. o. (Gliwice) goods
manufacture OSI of food, drinks production and 993 International 1.6 Germany USA Esca Food Solutions Sp. z o. o. (Warsaw) and tobacco preserving of meat Holding GmbH products
manufacture manufacture of other MBF Sp. z o. o. (Tczew), Belbal Aerial 994 BELBAL 1.6 Belgium Belgium of rubber and rubber products Promotion S.A. (Straszyn near Gdańsk) plastics
NORDKALK mining and quarrying of 995 1.6 Finland Finland Nordkalk Sp. z o. o. (Krakow) GROUP quarrying limestone
manufacture of parts GARDNER United and accessories for 90.8% stake in Gardner Poland Sp. z o. o. 996 1.6 United Kingdom automotive GROUP LTD Kingdom motor vehicles and – factory in Tczew their engines
Intermarket financial 997 1.6 Austria Austria other credit granting 50% stake in Polfactor S.A. (Warsaw) Bank AG intermediation
manufacture Benda-Lutz aluminium powder Benda-Lutz Skawina Sp. z o. o. 998 1.5 Austria Austria of metals and GmbH production (Małopolskie Voivodship) metal products
general construction of buildings and 999 Wilkosz 1.5 Austria Austria construction Investbau (Płock) civil engineering works
Wienerberger manufacture of ceramic building Wienerberger Ceramika Budowlana 1000 Ziegelindustrie 1.5 Austria Austria other non-metal materials Sp. z o. o. (Warsaw, Lębork) AG goods manufacture
Waldemar wholesale of 1001 1.5 Germany Germany wholesale trade Klimapol Sp. z o. o. (Lublin) Żurawski chemical products
manufacture Lactalis Polska Sp. z o. o. (Warsaw), of food, drinks manufacture of dairy 1002 LACTALIS 1.5 France France Polser S.A. – operation of dairies and and tobacco products cheese making in Siemiatycze products
Pol Nordic development and Pol Nordic Group Sp. z o. o. (Warsaw) 1003 1.5 Norway Norway real estate Group AS selling of real estate – trade and service center
82 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) trade and Martela Design Center Sp. z o. o. 1004 Martela OYJ 1.5 Finland Finland trade of clothes repairs (Warsaw)
Loctite Europa trade and 1005 1.5 Austria Austria retail sale of glue Loctite Polska Sp. z o. o. (Warsaw) GmbH repairs
Jockenhoefer manufacture of Jobon Sp. z o. o. (Zwierzyniec, Lubelskie 1006 Verwaltung 1.5 Germany Germany furniture and furniture production Voivodship) GmbH consumer goods
manufacture of manufacture of 1007 Gildemeister AG 1.5 Germany Germany machinery and stake in Famot-Pleszew S.A. (Pleszew) machine-tools equipment
transport, Franz Peter cargo handling and Spedition Rosner Mobeltransporte 1008 1.5 Germany Germany storage and Rosner storage Sp. z o. o. (Przylep) communication
manufacture of food, drinks manufacture of dairy 1009 Corey Durling 1.5 USA USA Bona Sp. z o. o. (Złotów) and tobacco products products
C & C Partners transport, C & C Partners Telecom Sp. z o. o. 1010 Communications 1.5 Netherlands Netherlands storage and telecommunications (Leszno) BV communication
manufacture of wood manufacture of 1011 Arnold Dammers 1.5 Germany Germany HDM Sp. z o. o. (Ruszów) and wooden wood products
manufacture pizza baking and of food, drinks Fantasy Foods Sp. z o. o. (Kobyłka near 1012 Herisson Ltd 1.5 Ireland Canada cooling equipment and tobacco Warsaw) production products
manufacture manufacture of 1013 Hubert Boerger 1.5 Germany Germany of rubber and Robina Sp. z o. o. (Kostrzyn) plastic products plastics
construction of NCC highways, roads, Leszczyńskie Przedsiębiorstwo Robót 1014 CONSTRUCTION 1.5 Norway Norway construction airfields and sport Drogowo-Mostowych Sp. z o. o. (Leszno) AS facilities
business 1015 YellowTel A/S 1.4 Denmark Denmark data processing YellowTel Polska Sp. z o. o. (Warsaw) activities
manufacture production of Leoni Autokabel Polska Sp. z o. o. Leonische of electrical 1016 1.4 Germany Germany cables and wires for (Ostrzeszów), Leoni Kabel Drathwerke machinery and automotive industry Polska Sp. z o. o. (Kobierzyce) apparatus
Securpol Polska Sp. z o. o. (Warsaw, Italpol Servizi business 1017 1.4 Italy Italy security services Poznań, Gdańsk, Łódź, Kraków, Fiduciari S.P.A. activities Bydgoszcz, Katowice, Lublin)
Credit Suisse Asset financial security broking and Credit Suisse Asset Management 1018 Management 1.4 Netherlands Netherlands intermediation fund management Polska S.A. (Warsaw) Nederland Holding B.V.
83 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) Przedsiębiorstwo Techniki Sanitarnej Alba Sp. z o. o. (Chorzów), Alba ALBA sewage and refuse municipal Przedsiębiorstwo Gospodarki 1019 International 1.4 Germany Germany disposal, sanitation services Komunalnej Czeladź Sp. z o. o. GmbH and similar activities (Czeladź), Alba Śląsk Sp. z o. o. Bytom, Gorzów Wielkopolski, Toruń, Warsaw)
manufacture of manufacture of other 53.54% stake in Zebra Sp. z o. o. 1020 Rom Heribert 1.4 Belgium Belgium furniture and office and shop (Dzierżoniów) consumer goods furniture
manufacture of parts AL-KO KOBER and accessories for AL-KO KOBER Sp. z o. o. - factory in 1021 1.4 Germany Germany automotive AG motor vehicles and Wysogotowo near Poznań their engines
business and INTERNET real estate United management 1022 SECURITIES 1.4 United Kingdom and business Euromoney Polska S.Z. (Warsaw) Kingdom consultancy LTD activities activities
development and 1023 Solbit 1.3 Israel Israel real estate Asbud Piaseczno Sp. z o. o. (Warsaw) selling of real estate
Scheidt installation of Scheidt Gliwice Sp. z o. o. (Pyskowice), 1024 International 1.3 Germany Germany construction electrical wiring and Scheidt Gliwice Sp. z o .o. (Warsaw) GmbH fittings
manufacture aluminium alloys 1025 Sacal SpA 1.3 Italy Italy of metals and RCN Metals Sp. z o. o. (Warsaw) plant metal products
manufacture Maria Prior of chemicals cosmetics Prino-Plast Sp. z o. o. JV Produkcja 1026 1.3 Germany Germany - Nowak and chemical production Artykułów Higienicznych (Malbork) products
Italiana Appalti development and 1027 1.3 Italy Italy real estate I.A.CO. Poland (Kraków) Costruzioni selling of real estate
HTS Duisburg retail sale of trade and 1028 Haniel Textile 1.3 Germany Germany cosmetic and toilet HTS Polska Sp. z o. o. repairs Service GmbH articles
Freshtex washing and dry- International personal Freshtex Textile Finishing 1029 1.3 Germany Germany cleaning of textile Textile Serwis services Polska Sp. z o. o. (Stary Wołów) and fur products GmbH
manufacture manufacture of Ferroli Poland Sp. z o. o. (Jastrzębie 1030 Ferroli SpA 1.3 Italy Italy of metals and central heating Zdrój, Śląskie Voivodship) metal products radiators and boilers
manufacture manufacture of other 1031 ETC Couture 1.3 Netherlands Netherlands of fabrics and Moda Nowy Tomyśl Sp. z o. o. outerwear textiles
manufacture of Szwedzkie Biuro Techniczne Sp. z o. o. 1032 AxEast AB 1.3 Sweden Sweden machinery and production of pumps (Warsaw) equipment
development and 1033 Asthrom 1.3 Israel Israel real estate Asbud Piaseczno Sp. z o. o. selling of real estate
other scheduled Arlberger transport and 75% stake in Sudety Lift Sp. z o. o. 1034 1.3 Austria Austria passenger land Bergbahnen AG storage (Szklarska Poręba) transport
84 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture manufacture of 1035 Velux A/S 1.3 Denmark Denmark of rubber and Velux Polska Sp. z o. o. (Warsaw) plastics plastics
KTR manufacture manufacture of steel 85% stake in Konstrukcje Stalowe KTR 1036 Kupplungstech- 1.3 Germany Germany of metals and drums and similar GROUP Sp. z o. o. (Ozimek, Opolskie nik GmbH metal products containers Voivodship)
Paletten Service manufacture Przedsiębiorstwo Produkcyjno- Hamburg of wood manufacture of Handlowo-Usługowe PALIMEX 1037 1.3 Germany Germany Beteiligungs and wooden wooden containers (Włoszakowice, Wielkopolskie GmbH products Voivodship)
manufacture manufacture Central Europe of medical and Fabryka Narzędzi Chirurgicznych of electrical 1038 Disposable 1.3 USA USA surgical equipment i Dentystycznych MIFAM S.A. machinery and Medical LLC and orthopaedic (Milanówek) apparatus appliances
Schliessanlagen manufacture manufacture of 1039 GmbH 1.3 Germany Germany of metals and Pfaffenhain PL Sp. z o. o. (Kraków) locks and hinges Pfaffenhain metal products
activities of travel transport, agencies and tour TC Touristik Neckermann Polska Biuro Podróży 1040 1.3 Germany Germany storage and operators; tourist GmbH Sp. z o. o. (Warsaw) communication assistance activities n.e.c.
Alfa Laval trade and 1041 1.2 Netherlands Netherlands other wholesale Alfa Laval Polska Sp. z o. o. (Warsaw) Holding BV repairs
Donaldson TorII trade and 1042 1.2 Netherlands Netherlands other wholesale Ultrafilter Sp. z o. o. (Warsaw) B.V. repairs
manufacture manufacture of of electrical electric motors, 1043 M2P Group S.A. 1.2 France France Mikroma Sp. z o. o. (Września) machinery and generators and apparatus transformers
manufacture manufacture of 1044 Sieper GmbH 1.2 Germany Germany of consumer Sieper Sp. z o. o. (Złotoryja) games and toys products
OKT manufacture manufacture of 1045 Kunststofftech- 1.2 Germany Germany of rubber and plastic plates, sheets, OKT Polska Sp. z o. o. (Bydgoszcz) nik GmbH plastics tubes and profiles
transport, Odra Industries inland water Przedsiębiorstwo Portowe 1046 1.2 Norway Norway storage and ASA transport ODRAPORT Sp. z o. o. (Świnoujście) communication
manufacture processing and Materne- of food, drinks 1047 1.2 Belgium Belgium preserving of fruit Materne-Polska Sp. z o. o. (Łopatki) Confilux S.A. and tobacco and vegetables n.e.c. products
manufacture Immobiliare footwear and leather Garbarnia Master Sp. z o. o. 1048 1.2 Italy Italy of leather and Sifra production (Włocławek) leather products
manufacture Dan Engineering Dan Engineering Sp. z o. o. (SEZ 1049 1.2 Denmark Denmark of metals and zinc production AS Tarnobrzeg) metal products
85 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) wholesale of other trade and machinery for use in 1050 Castolin GmbH 1.2 Germany Germany Castolin Sp. z o. o. (Gliwice) repairs industry, trade and navigation
B.V. Holding manufacture building and 50% stake in Damen Shipyards 1051 Maatschappij 1.2 Netherlands Netherlands of transport repairing of ships Gdynia S.A. (Gdynia) Damen equipment
manufacture manufacture of PPUH AmTech Sp. z o. o. (Głogów), 1052 Amtech U.S. Inc. 1.2 USA USA of metals and metal structures and PPHU Hydrostal Sp. z o. o. (Dobrzany) metal products parts of structures
Wolters Kluwer publishing and Polskie Wydawnictwa Profesjonalne 1053 1.2 Netherlands Netherlands publishing of books Int. Holding B.V. printing Sp. z o. o (Warsaw)
KUFNER 1054 TEXTILWERKER 1.2 Germany Germany retail trade wholesale of textiles Kufner Polska Sp. z o. o. (Starowa Góra) GmbH
manufacture of manufacture of other non-metal concrete products 1055 Unicon A/S 1.2 Denmark Italy Ekol-Unicon Sp. z o. o. goods for construction purposes
manufacture of parts TI Automotive United and accessories for 1056 1.2 United Kingdom automotive TI Poland SP. z o. o. (Bielsko-Biała) Holding Ltd Kingdom motor vehicles and their engines
manufacture manufacture of 1057 Chantelle S.A. 1.2 France France of fabrics and Starfam Sp. z o. o. (Starachowice) underwear textiles
manufacture manufacture of of chemicals 1058 Fatro SpA 1.2 Italy Italy pharmaceutical Fatro Polska Sp. z o. o. (Kobierzyce) nad chemical preparations products
manufacture of manufacture of other 46.46% stake in Zebra Sp. z o. o. 1059 Lobito S.A. 1.2 Luxembourg Luxembourg furniture and office and shop (Dzierżoniów) consumer goods furniture
Rolls-Royce United power, gas and steam and power 1060 Power Ventures 1.1 United Kingdom Energobaltic Sp. z o. o. (Gdańsk) Kingdom water supply supply Ltd
manufacture manufacture of wire Bekaert Kotlarnia Sp. z o. o. 1061 FNE 1.1 Belgium Belgium of metals and products (Opolskie Voivodship) metal products
manufacture of 50% stake in Dendro Poland Ltd. Sp. z o. o. 1062 Ergonomics B.V. 1.1 Netherlands Netherlands furniture and furniture production (Rogoźno Wielkopolskie) consumer goods
manufacture of 50% stake in Dendro Poland Ltd. Sp. z o. o. 1063 BV Foedor 1.1 Netherlands Netherlands furniture and furniture production (Rogoźno Wielkopolskie) consumer goods
manufacture manufacture of of rubber 1064 Aligator Ventil 1.1 Germany Germany rubber tyres and STOMIL Sp. z o. o. (Środa Wlkp.) and plastics; tubes automotive
Józef Felix trade and sale of motor Nawrot Sp. z o. o. (Długołęka, 1065 1.1 Belgium Belgium Nawrot repairs vehicles Dolnośląskie Voivodeship)
86 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) general construction VINCI of buildings and 1066 1.0 France France construction 72.93% stake in Warbud S.A. (Warsaw) Construction civil engineering works
United Parcel courier activities 1067 Service Inc. 1.0 USA USA postal services other than national UPS Polska Sp. z o. o. (Warsaw) (UPS) post activities
manufacture The Aluminium United aluminium powder 1068 1.0 United Kingdom of metals and shares in Benda-Lutz Skawina Sp. z o. o. Powder Co. Ltd. Kingdom production metal products
media and 20.8% stake in Fincast Sp. z o. o. 1069 Simest SpA 1.0 Italy Italy television activities entertainment (Warsaw)
Schoenfabriek manufacture Helioform Schoenfabriek Helioform 1070 1.0 Netherlands Netherlands of leather and footwear production Quality Shoes International Sp. z o. o. (Rzeszów) leather products BV
wholesale of Radson Panele Grzewcze Sp. z o. o. electrical household 1071 Radson NV 1.0 Belgium Belgium wholesale trade (Zabrze), Rettig Heating Sp. z o. o. appliances and radio (Warsaw, Rybnik) and television goods
manufacture of parts trade and and accessories for 1072 Peugeot 1.0 France France Peugeot Polska Sp. z o. o. (Warsaw) repairs motor vehicles and their engines
manufacture pre-isolated pipes Pan-Isovit Sp. z o. o. (Katowice) with 1073 Pan-Isovit 1.0 Germany Germany of rubber and production Eksport-Projekt (Zabrze) plastics
Morrison financial 1074 Knudsen 1.0 USA USA banking 29.5% stake in AmerBank (Warsaw) intermediation Corporation
manufacture Michael Bob manufacture of other 1075 1.0 Germany Germany of fabrics and Bob Polska Sp. z o. o. (Żagań) GmbH outerwear textiles
media and 19.8% stake in Fincast Sp. z o. o. 1076 Mediafin 1.0 Italy Italy television activities entertainment (Warsaw)
manufacture Lecce Pen stationery 1077 1.0 Italy Italy of consumer Lecce Pen Polska Sp. z o. o. (Bytom) Company SpA production products
Horst Mosolf transport and freight transport by 1078 1.0 Germany Germany Mostva Sp. z o. o. (Mszczonów) Group storage road
Havas business Euro Rscg NEW EUROPE Sp. z o. o. 1079 Advertising 1.0 France France advertising activity activities (Warsaw) International
Eurovia financial 33% of shares of Eurovia Polska S.A. 1080 1.0 France France capital investment International intermediation (Bielsko-Biała)
retail sale of trade and electrical household 1081 Elfa AB 1.0 Sweden Sweden Elfa Polska Sp. z o. o. (Warsaw) repairs appliances and radio and television goods
publishing and Bydgoska Drukarnia Akcydensowa 1082 East Pack GmbH 1.0 Germany Germany printing printing Sp. z o. o. (Bydgoszcz)
87 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture Dresdner Dresdner Festerbau Polska Sp. z o. o. 1083 1.0 Germany Germany of rubber and window production Fensterbau (Niepołomice near Kraków) plastics
manufacture manufacture of basic 1084 Danieli 1.0 Italy Italy of metals and iron and steel and of 20% of shares of Huta Katowice metal products ferro-alloys
manufacture Chapman Ice of food, drinks production of ice Chapman Ice Cream Poland Sp. z o. o. 1085 1.0 Canada Canada Cream and tobacco cream (Poznań) products
manufacture manufacture of other 1086 Carly Gry 1.0 Denmark Denmark of fabrics and Carly Gry PL Production (Łódź) outerwear textiles
retail sale of Berthold Sichert electrical household 1087 GmbH, Adolf 1.0 Germany Germany wholesale trade Berthold Sichert Sp. z o. o. (Bydgoszcz) appliances and radio Otto GmbH and television goods
Baring CEF publishing of publishing and 1088 Investment IV 1.0 USA USA journals and 85% of shares of Poligrafia S.A printing Ltd periodicals
Albert building materials 1089 1.0 Germany Germany wholesale trade Schomburg Polska Sp. z o. o. (Kutno) Schomburg sale
manufacture manufacture of 10% stake in Fabryka Maszyn Elektropol of electrical electric motors, 1090 1.0 Italy Italy Elektrycznych Indukta S.A. (Bielsko- Cantoni machinery and generators and Biała) apparatus transformers
production and power, gas and 1091 LM Glasfiber 1.0 Denmark Denmark distribution of LM Glasfiber Sp. z o. o. (Goleniów) water supply electricity
general construction Stalco Holding of buildings and Zeman Hale-Dachy-Fasady Sp. z o. o. 1092 1.0 Austria Austria construction GmbH civil engineering (Świętochłowice, Śląskie Voivodeship) works
manufacture manufacture of knitted and Henri Lloyd United 1093 1.0 United Kingdom of fabrics and crocheted pullovers, Henri Lloyd Polska Sp. z o. o. (Brodnica) Limited Kingdom textiles cardigans and similar articles
LOI manufacture of manufacture of LOI Poland Sp. z o. o. factory in 1094 THERMPROCESS 1.0 Germany Germany machinery and furnaces and furnace Tarnowskie Góry GmbH equipment burners
manufacture manufacture of Creuzet of electrical electrical equipment 70% stake in Creuzet Polska Sp. z o. o. 1095 Aeronautique 1.0 France France machinery and for engines and (Sędziszów Małopolski) S.A. apparatus vehicles n.e.c
Coko Werk manufacture manufacture of other 1096 GmbH & Co. 1.0 Germany Germany of rubber and Coko-Werk Polska Sp. z o. o. (Łódź) plastic products KG plastics
manufacture manufacture of Gardinia Home 1097 1.0 Germany Germany of metals and builders’ carpentry Gardinia Sp. z o. o. (Domasław) Decor GmbH metal products and joinery of metal
88 Capital invested (USD in Country Country Activities Activities No. Investor millions) Comments of registration of origin (PKD) (class) (as of December 31, 2004) manufacture 1098 SOPP GmbH 1.0 Germany Germany of fabrics and textile weaving Sopp Polska Sp. z o. o. (Kamienna Góra) textiles
manufacture manufacture of HUBER + of electrical 1099 1.0 Switzerland Switzerland insulated wire and Huber + Suhner Sp. z o. o. (Tczew) SUHNER AG machinery and cable apparatus
manufacture Molex Premise Networks Sp. z o. o. 1100 MOLEX Inc 1.0 USA USA of metals and wire drawing (Tczew) metal products
NiRoVe manufacture treatment and NiRoVe-Polska Sp. z o. o. 1101 Industrie Service 1.0 Germany Germany of metals and coating of metals (Stalowa Wola) GmbH metal products
Investments exceeding 80,649.8 USD 1 million
Estimated investment not 3,827.8 exceeding USD 1 million
Total 84,477.6
89 page No. page No. page No. 1. Foreign in vestments in the world ...... 3 AxMeditec AB ...... 74 Carrefour ...... 11 2. Inflow of foreign in vestments to Poland in 2004 . . . . .3 B INTERNATIONAL ...... 63 Carrus ...... 76 3. Foreign investors in Po land according to the ori gin B.V. Holding Maatschappij Damen ...... 86 Cartotechniche Chierese e Tiferante ...... 73 of their capital ...... 4 BACKER BHV AB ...... 70 Casino ...... 12 4. Foreign investments with regard to the sectors of the Bagdasarian ...... 75 Castolin GmbH ...... 86 economy ...... 5 Bahlsen ...... 44 Caterpillar Inc...... 72 5. Foreign investors in Poland ...... 5 Ball Packaging Europe GmbH ...... 26 Caterpillar Power Ventures ...... 66 The List of Major Foreign Investors in Poland: Decem- Ballinger Holdings Ltd...... 64 Catzy ...... 71 ber 2004 ...... 10 Banco Commercial Portugues S.A...... 17 CBR Baltic BV ...... 13 3M Nederland B.V...... 28 Banco Santander Central Hispano ...... 31 CC HBC (Coca-Cola Hellenic Bottling Company) ...... 14 A. Espersen A/S ...... 65 Bank of Tokyo - Mitsubishi N.V...... 36 Cebal S.A.S...... 56 A/S Roulunds Fabriker ...... 69 Baring CEF Investment IV Ltd ...... 88 CEDC (Central European Distribution Corporation) . . . . .37 ABB Ltd...... 22 Barry Callebaut France S.A...... 40 Celia ...... 61 ABBA Seafood AB ...... 45 Basell Europe Holdings NV ...... 21 Cement Roadstone Holding Plc (CRH) ...... 16 ABN-AMRO Bank NV ...... 24 BASF AG ...... 45 Ceneu Pizza BV ...... 69 ACCIONA ...... 39 Bata Shoes ...... 72 Central Europe Disposable Medical LLC ...... 85 Accor SA ...... 17 Bates Telecom Ltd ...... 20 Central European Advanced Refractory Technology BV . .55 ACP Europe ...... 60 Bau Holding Strabag AG ...... 22 Central European Recovery Holdings LP ...... 72 Actaris Gazzahlerbau GmbH ...... 80 Bauer Peter ...... 80 Centro Internationale Handelsbank AG ...... 41 Actebis Holding GmbH ...... 44 Baxter Healthcare Corporation ...... 56 CEPV ...... 32 Adidas AG ...... 75 Bayer AG ...... 38 Cetelem S.A...... 47 ADO Gardinenwerke GmbH & co. KG ...... 71 BEG S.A...... 14 CeWe Color ...... 67 Adrenatio ...... 74 Beiersdorf AG ...... 28 CF Gomma Nederland ...... 65 AEG Aktiengesellschaft ...... 81 Bekaert NV ...... 74 CF Gomma SpA ...... 72 AES Horizons Ltd ...... 55 BELBAL ...... 82 CFE Netherland ...... 80 Aesculap AG ...... 70 Beloit Corporation ...... 48 Chantelle S.A...... 86 AGA AB ...... 40 Belvedere S.A...... 42 Chapman Ice Cream ...... 88 AGF ...... 55 Benckiser ...... 48 Chase EU Holding Ltd ...... 76 AGIP Petroli SpA ...... 67 Benda-Lutz GmbH ...... 82 Chaufourneries de Hergenrath ...... 53 Agro East Europe BV ...... 65 Berger Breitgewebe International GmbH ...... 42 Chelverton Properties ...... 39 Ahlers AG ...... 40 Bergerat Monnoyeur SAS ...... 53 Chemitex Trading Ltd...... 45 Ahlstromforetagen Svenska Aktiebolg ...... 45 Bertelsmann AG ...... 43 Chipita ...... 64 AIG ...... 26 Berthold Sichert GmbH, Adolf Otto GmbH ...... 88 Chr. C. Grene A/S ...... 55 Air Liquide S.A...... 26 Best Eastern Plaza Hotels International ...... 78 Chr. Hansen A\S ...... 63 Aktiebolaget SKF ...... 36 Beverly Hills Vide L.L.C...... 47 Christman & Pfeifer Mobelsysteme GmbH&Co KG . . . . .59 AL-KO KOBER AG ...... 84 Bianca Modern ...... 66 CH2M Hill International Inc...... 79 ALBA International GmbH ...... 84 BIC CLICHY ...... 61 Cigna Global Holdings Inc ...... 80 Albert Schomburg ...... 88 Big Star Holding ...... 63 Citigroup ...... 10 Alcatel ...... 21 Bilfinger und Berger Bau AG ...... 42 Clement ...... 80 Alcea S.r.l. Group ...... 65 Binder International ...... 57 Cloetta Fazer AB ...... 53 Alcro - Beckers AB ...... 29 Bioconsult SpA ...... 75 CNH Global ...... 27 Alfa Laval Holding BV ...... 85 Biofarma ...... 57 Coats Viyella Plc ...... 46 Alfort Kemtech AB ...... 81 Bitron International SA ...... 75 Coko Werk GmbH & Co. KG ...... 88 Aligator Ventil ...... 86 BM Industria Bergamasca Mobili ...... 70 Colas S.A...... 74 Alliance Capital Management Corporation of Delaware . .73 BMW Group ...... 68 Colgate-Palmolive America INC ...... 59 Allianz AG ...... 20 BNP Paribas ...... 23 Commerzbank AG ...... 13 Allied Irish Bank Plc ...... 13 Boart Longyear International BV ...... 60 Condor...... 62 Alpla ...... 48 Bombardier Transportation ...... 40 Conforama Holding ...... 29 Alstom Holdings ...... 22 Bongrain ...... 57 Conoco Central Europe Inc ...... 53 Altana Pharma AG ...... 35 BOOG B.V...... 76 Conrad Jacobson GmbH ...... 74 Alte Leipziger Europa AG ...... 54 Borgestad Fabrikker A/S ...... 82 Consolis Oy Ab ...... 60 Altrad-Baumann GmbH ...... 70 BOS Automotive Products Belgie NV ...... 55 Cookson Holdings BV ...... 55 Aluplast Austria GmbH ...... 54 Bougues...... 72 Cookson Overseas Limited ...... 55 Am-Rest Holding N.V...... 38 BP International B.V...... 12 Cordesmeyer Franc ...... 63 Amatsuji Kogyo Seisakusho ...... 46 Braaten Companies LLD...... 61 Corey Durling ...... 83 Amcol International B.V...... 51 BRC Holding Developments ...... 30 Corus ...... 79 Amcor Ltd ...... 22 Brembo S.p.A...... 44 Cox Enterprises, Inc...... 65 Amtech U.S. Inc...... 86 Bridgestone Corporation ...... 18 CPIG (Chicago Poland Investment Group) LLC ...... 40 Amvescap Plc ...... 43 Brinkhaus GmbH & CO.KG ...... 55 Credit Agricole ...... 12 AP Portico Sarl ...... 26 British American Tobacco GmbH ...... 17 Credit Lyonnais Global Banking ...... 61 Apache Corporation ...... 28 British Oxygen Corporation (BOC Group) ...... 19 Credit Suisse Asset Management Nederland Holding B.V. 83 Apcon ...... 65 British Sugar Overseas (BSO) Ltd...... 24 Credit Suisse First Boston Ceramic Partners S.a.r.l...... 27 Apollo-Rida Poland Llc...... 10 British Vita Plc ...... 45 Credit Suisse Private Equity ...... 56 Apotex Inc...... 79 Broen A/S ...... 61 Creuzet Aeronautique S.A...... 88 Arcon ...... 71 Brouwerij Palm NV ...... 27 Crystal Clear Industries Inc...... 67 Arctic Paper AB ...... 21 Brugman Radiatorenfabriek B.V...... 51 CSM NV ...... 38 Ardutch BV ...... 77 BSH Bosch und Siemens Hausgeräte GmbH ...... 20 Cussons Group Ltd...... 32 Argillon GmbH ...... 75 BSN Gervais Danone ...... 22 D. Chase Enterprises ...... 23 ARLA FOODS AmbA ...... 66 BST ...... 74 DÜRR GmbH ...... 72 Arlberger Bergbahnen AG ...... 84 Buderus HT ...... 50 Daewoo ...... 11 Arnold Dammers ...... 83 Budzinsky + Hor GmbH + Co ...... 69 Dagens Industri Holding AB ...... 48 Arot AB ...... 63 Bulten AG ...... 53 Dahl International AB ...... 45 Arval PHH ...... 39 Bunge Investment France ...... 30 DAICEL CHEMICAL INDUSTRY LTD ...... 75 ArvinMeritor ...... 80 BV Foedor ...... 86 DaimlerChrysler AG ...... 29 AS PROPULSION INTERNATIONAL B.V...... 66 C & C Partners Communications BV ...... 83 Dalkia Termika S.A...... 19 ASOBO BV ...... 33 C.E.M.O.M. – MOATTI ...... 74 Dallas International ...... 78 Assman GmbH ...... 81 C&M ...... 56 Dan Cake A/S ...... 68 Asthrom...... 84 Cadbury’s Schweppes Plc ...... 22 Dan Engineering AS ...... 85 Atlas Neeif Holdings Ltd...... 34 Caisse Centrale de Credit Cooperatif ...... 67 Dana Corporation ...... 47 Atofina S.A...... 57 Campagnie Financiere Michelin ...... 14 Danfoss A/S ...... 29 Auchan S.A...... 13 Campofrio Alimentacion S.A...... 72 Danieli ...... 88 Autoliv AB ...... 44 Canal Plus ...... 12 Danish Fast Food ...... 79 Avag Holding AG ...... 77 Capgemini S.A...... 69 Danish Partner ApS ...... 81 Aventis S.A...... 31 Cardif Assurance Risques Divers ...... 46 Danske Bank A.S...... 51 AVIVA Plc...... 17 Cardif S.A...... 39 David Minot ...... 79 AVON International Operations INC...... 20 Cargill Inc...... 26 David S Smith Netherlands B.V...... 31 AVON LUXEMBOURG HOLDINGS ...... 25 Caribbean Distillers Corporation Ltd...... 69 DBG Osteuropa Holding GmbH ...... 47 AxEast AB ...... 84 Carlsberg Breweries A/S ...... 22 DBT GmbH ...... 76 Axel Springer AG ...... 35 Carly Gry ...... 88 Decathlon S.A...... 72
90 page No. page No. page No. Deguss Huls AG ...... 50 Federal Mogul Holding Deutschland GmbH ...... 35 GTE International ...... 54 DeLaval Holding AB ...... 41 FEGRO-Markt GmbH ...... 30 GTECH Corporation ...... 27 Delfinet B.V...... 30 Ferrero Group ...... 20 GUALFIN AG ...... 76 Delfo SpA ...... 77 Ferroli SpA ...... 84 Guardian Industries Corporation ...... 21 DELOITTE CENTRAL EUROPE HOLDINGS LIMITED . . 66 Ferrovial ...... 19 Gustav F. W. Hamester GmbH&Co ...... 76 Delphi Automotive Systems ...... 15 Festo GmbH ...... 68 Gwarex Holdings Limited ...... 75 Democo Poland Sp. z o. o...... 81 Feu Vert S.A...... 72 Gyproc Benelux S.A...... 79 DENSO ...... 74 FIAAG ...... 48 Hachette Livre S.A...... 46 DeTeMobil ...... 30 Fiat ...... 10 Hafele Holding GmbH ...... 79 Deutsche Bank AG ...... 17 Fiat-GM Powertrain B.V...... 14 Hagemeyer N.V...... 74 Deutsche Bank Trust Company Americas ...... 25 Filatura e Tessitura di Tollegno SpA ...... 66 Hamelin Group ...... 67 Deutsche Investitions und Entwicklungsgesellschaft GmbH . 52 Fina Grain Compagnie Commerciale Financiere ...... 65 Hans Grohe International ...... 68 Deutsche Zentral Genossenschaftsbank AG (DG Bank) . .37 Financial Holding FHF ...... 79 Hans Hoell Fleischwarenfabrik AG, Co KG ...... 82 DHL Worldwide Network ...... 29 Finanziaria Mobiliare Immobiliare di Pollone ...... 76 Hanson AK i BV ...... 40 DiverseyLever Holdings B.V ...... 81 Finelectric BV ...... 30 Hanyang Precision Co. Ltd...... 69 Docks de France ...... 76 Flair Polstermoebel GmbH and Co KG ...... 79 Harbin B.V...... 16 Donaldson TorII B.V...... 85 Flextronics International ...... 28 Harris ...... 73 Dossche ...... 37 Flt-Matall GmbH ...... 79 Havas Advertising International ...... 87 Dr August Oetker Nahrunghittel K. G...... 44 FmB & Co. KG ...... 57 Hays ...... 25 DreamLand ...... 68 FNE ...... 86 Hedeselskabet ...... 79 Dresdner Bank ...... 36 Foras Holding A/S ...... 25 Heineken International B.V...... 13 Dresdner Fensterbau ...... 88 Fortis Bank NV/S.A...... 20 Heinrich Bauer Verlag Beteiligungs GmbH ...... 27 Dryvit Systems ...... 79 Fortrade Financing SPA ...... 28 Hemelter Muhle GmbH ...... 67 Duni AB ...... 61 FORTUM OIL FINANCE B.V...... 51 Henkel CEE ...... 23 Dyckerhoff AG ...... 21 Fortum Power and Heat OY ...... 70 Henkell&Sohnlein KG ...... 65 Dyrup ...... 64 Foster Wheeler Europa B.V...... 43 Henne County Mode GmbH ...... 79 E. Hawle Armaturenwerke GmbH ...... 67 Framondi NV ...... 21 Henri Lloyd Limited ...... 88 E. Leclerc ...... 30 France Telecom ...... 10 Henschel Engineering N.V...... 62 E. Miroglio Holding ...... 56 Franke Deutschland Holding GmbH ...... 70 Herco International ...... 78 EADS CASA ...... 36 Frankische Plastiks GmbH ...... 40 Herisson Ltd ...... 83 East Pack GmbH ...... 87 Franz Peter Rosner ...... 83 Herlitz AG Berlin ...... 46 East Springs International NV ...... 49 Franz Zentis GmbH Co.KO ...... 50 Hero ...... 53 Eaton Corporation ...... 22 Fresenius Kabi AG ...... 44 Herz ...... 72 Eckes-Granini Int...... 51 Freshtex International Textile Serwis GmbH ...... 84 Hewlett Packard ...... 54 EdS ...... 65 Freudenberg Politex Srl ...... 59 Hexal AG ...... 41 Egis Pharmaceuticas Ltd ...... 75 Friedrich Weissheimer Maltzfabrik KG ...... 73 Heye & Heinz Glas ...... 56 Eiffage Construction ...... 25 Fritidsresor Holding AB ...... 32 Heye Holding GmbH ...... 73 Elanders Infoprint AB ...... 71 Frosta AG ...... 59 Hicks Muse Tate & Furst, Emerging Markets Partnership ELAPLAST Technik GmbH ...... 80 FUJI PHOTO (Europe) ...... 81 and Argus Capital Partners ...... 23 Elbicon ...... 81 Gallaher Group Plc ...... 42 Hiestand Holding AG ...... 34 Electrabel S.A...... 18 Gardinia Home Decor GmbH ...... 88 Hines ...... 24 Electricite de France Internationale (EDF) ...... 13 GARDNER GROUP LTD ...... 82 HJ Heinz Company ...... 33 Electrolux AB ...... 48 GATX Rail Overseas Holding Corporation ...... 19 HK Ruokatalo Oyj ...... 63 Elektropol Cantoni ...... 88 GE Capital Real Estate/Heitman Central Europe Property Hobas Rohre GmbH ...... 51 Elfa AB ...... 87 Partners ...... 18 Hochland AG ...... 39 Eli Lilly Nederland ...... 56 GE Power Controls Belgium BVBA ...... 74 Hochtief AG ...... 41 Elopak Denmark AS ...... 68 Gedeon Ritcher LTD ...... 34 Hohenstaufen Neunundvierzigste Vermogensverwaltungs Elsam A/S ...... 36 Gelsenwasser AG ...... 60 GmbH ...... 28 EMERITA B.V...... 35 GEMPLUS S.A...... 43 Hokim Auslandbeteiligungs GmbH ...... 76 EMPiK Centrum Investments S.A...... 31 General Beton Triveneta SpA ...... 80 Holdes NV ...... 73 EnBW Energie Baden-Würtenberg AG ...... 33 General Electric Corporation (GE) ...... 15 Holmatro N.V ...... 81 Energie Baden-Württemberg AG (EnBW) ...... 34 General Mills Inc...... 64 Horst Mosolf Group ...... 87 ENERSYS Holding ...... 46 General Motors Corporation ...... 11 Horstmann ...... 78 ENRON POLAND INVESTMENT B.V...... 21 Generali Holding Vienna AG ...... 26 House of Prince Denmark A/S ...... 16 ENSTO SEKKO OY ...... 72 Georg Utz Holding ...... 57 HP-Pelzer International GmbH ...... 58 Enterprise Internationale pour I’Environement S.A...... 44 Gerber Finance Company ...... 31 HTS Duisburg Haniel Textile Service GmbH ...... 84 Enterprise Investors ...... 12 Gerber Foods Holdings Ltd...... 54 HUBER + SUHNER AG ...... 89 Epstein ...... 19 Gerling Konzern Allgemeine Versicherungs AG ...... 48 Hubert Boerger ...... 83 Erbet B.V ...... 49 Germanos ...... 60 HUF Hulsbeck & Furst GmbH & Co. KG ...... 59 ERGO International Aktiengesselschaft ...... 20 Gerresheimer ...... 56 Huhtamaki Van Leer ...... 29 Ergom Materie Plastiche SpA ...... 61 Gestion Max ...... 76 HUK Coburg ...... 35 Ergonomics B.V...... 86 GIF SRL...... 79 Hutchinson S.A...... 37 Ericsson ...... 79 Gildemeister AG ...... 83 HVB ...... 10 Erste Bank ...... 59 Gillette Corporation ...... 35 Hydro Central Europe B.V ...... 27 Esselte AB ...... 34 Gillingham Portland Cement Company Limited ...... 68 IBM Central Holding GmbH ...... 80 Essilor International ...... 44 GIRARDINI S.r.l...... 66 ICI Omicron BV ...... 48 Esso Deutschland GmbH ...... 20 GiroCredit Bank AG ...... 70 ICL ...... 50 ETC Couture ...... 84 GKN Industries Limited ...... 60 ICN Pharmaceuticals Inc...... 31 Euler Hermes Versicherungenbeteiligungen GmbH ...... 65 Glaverbel Czech A.S...... 64 ICN Switzerland AG ...... 55 Eureko B.V...... 13 Glavunion ...... 76 Icopal A/S ...... 24 Eurocast Italia ...... 72 Glaxo SmithKline ...... 15 IFS Industrial and Financial Systems AB ...... 78 Eurodec Industries ...... 76 Glencore International AG ...... 40 IKEA ...... 13 Eurofoam B.V...... 38 Globus ...... 63 IMC Consulting ...... 78 Europa Distribution Center ...... 32 GLORIA S.a.r.l...... 57 Immobiliare Sifra ...... 85 Europar-Ven Company Establishment ...... 73 GN Great Nordic ...... 38 Imperial Tobacco Plc ...... 14 European Bank for Reconstruction and Development Go Sport ...... 62 Indafin Srl ...... 50 (EBRD) ...... 10 Golf Investment ...... 49 Indesit Company ...... 22 European Renaissance Capital L.P...... 41 Goodrich Aerospace Canada LTD ...... 47 Indian Food Company ...... 81 European Retail Enterprises (ERE) ...... 22 Goodyear Luxembourg S.A...... 19 Industrial Quimica del Nalón Polonia S.A...... 78 EUROPOLIS INVEST ...... 17 Graham Packaging ...... 53 Industrie Cartarie Tronchetti SpA (ICT) ...... 23 Europort Grain Terminal ...... 26 Granges A.B...... 41 Industry Service Marketing Corporation (ISM) ...... 77 Eurovia International ...... 87 Greenbrier Europe B.V...... 41 Inergy Automotive Systems ...... 56 Exide Technologies ...... 39 Greiner Perfoam GmbH ...... 72 ING Group NV ...... 11 F & P Holding Company Inc...... 20 Grossmann GmbH ...... 75 Inline Plastics Corporation ...... 81 Fagor Electrodomesticos ...... 24 Group 4 Falck A/S ...... 37 Innolink S.A...... 75 Fatro SpA ...... 86 Grundig AG ...... 62 Innova Capital ...... 21 Faure Machet (FM) Logistic S.A...... 38 Gruner +Jahr ...... 51 Intel Europe Inc...... 57 Faurecia Investments ...... 18 Gruppo Nico ...... 53 Inter Group ...... 67 FCE Bank Plc ...... 54 GTC International ...... 34 Inter Krankenversicherung AG ...... 30
91 page No. page No. page No. Inter Lebensversicherung AG ...... 52 Lee Bell Inc...... 37 Motorola Inc...... 50 Inter Paper Holding AG ...... 52 Legler ...... 50 Munksjo AB ...... 52 Inter Versicherungen ...... 50 Lek d.d...... 32 Muscle Machine Sweden ...... 66 Interelektra Holding S.A...... 67 Lend Lease Central Europe ...... 39 MVV Energie AG ...... 33 Interkontakt Group A.S...... 34 Lentjes ...... 48 MWCR S.p.A...... 59 Intermarche ...... 52 Leonische Drathwerke ...... 83 M2P Group S.A...... 85 Intermarket Bank AG ...... 82 Lesaffre Group ...... 77 Natel Investment BV ...... 75 International Container Terminal Services ...... 34 Levi Strauss ...... 40 National Grid Plc ...... 33 International Ducatel Development ...... 69 LG Electronics Inc ...... 20 Nationale Nederlanden ...... 54 International Fast Food Corporation ...... 43 LG International ...... 62 Nationwide Global Holdings Inc ...... 33 International Finance Corporation ...... 24 LG PHILIPS DISPLAYS HOLDING B.V...... 45 NCC AB ...... 27 International Trading & Investment ...... 77 Lhoist ...... 43 NCC CONSTRUCTION AS ...... 83 International Water United Utilities Holding BV ...... 39 Lignum Technologie Aktiengesellschaft ...... 80 Necks Invest AB ...... 76 INTERNET SECURITIES LTD ...... 84 Lima Industrie Anstalt ...... 60 Neinver ...... 52 Interprint GmbH & Co. KG ...... 56 Lincoln Electric International Holding Company ...... 58 Nesky Inc...... 67 Intersnack Knabber Gebaeck GmbH & Co. K.G...... 46 Lindab AB ...... 49 Nestle S.A...... 15 Investeringsfonden for Ostlandene ...... 60 Linde AG ...... 24 NET 5 Investment S.a.r.l...... 80 Investment Fund for Central and Eastern Europe ...... 19 Lisa Draexlmaier GmbH ...... 55 NETTO A/S ...... 23 IPC ...... 14 Little League International Baseball and Softball ...... 53 Neuber GmbH ...... 75 Ispol-IMG Holdings B.V...... 19 LLENTAB AB ...... 77 Neupack GmbH ...... 71 IT International Theatres ...... 27 LM Glasfiber ...... 88 News Corporation ...... 41 Italiana Appalti Costruzioni ...... 84 LNM Holdings N.V...... 15 NGK Insulators ...... 42 Italmatch Srl ...... 66 Lobito S.A...... 86 Nibco Inc...... 70 Italpol Servizi Fiduciari S.P.A...... 83 Loctite Europa GmbH ...... 83 Nichimen Corporation ...... 63 Italtriest Group ...... 58 Logstor Ror A/S ...... 47 Nijhof Wassink ...... 36 ITI Film Studies Poland BV ...... 56 Lohmann AG ...... 71 NiRoVe Industrie Service GmbH ...... 89 ITI Media Group NV ...... 16 LOI THERMPROCESS GmbH ...... 88 NKT Cables A/S ...... 35 Itochu Corp...... 78 Lothar Radomski ...... 82 NORD/LB NORDDEUTSCHE LANDESBANK GIRO- IVAX Corporation ...... 18 Lothar Thoni ...... 66 ZENTRALE ...... 30 IVECO N.V...... 70 LOUVRE HOTELS SAS ...... 26 Nordea Bank Sweden AB (Nordea Group) ...... 17 Jeronimo Martins Holding ...... 15 Lucchini Group ...... 21 Nordenia Hungary Szada (NHS) ...... 54 JFC Manufacturing Ltd...... 64 Lucent Technologies Network Systems Netherlands BV . .21 Nordic Environment Finance Corporation (NEFCO) . . . . .54 Jockenhoefer Verwaltung GmbH ...... 83 Ludwig Schockolade ...... 41 Nordica Polstermobel Beteiligung ...... 61 Johan van Leendert B.V...... 78 Lurgi Oel Gas Chemie GmbH ...... 62 Nordisk Wavin A/S ...... 34 Józef Felix Nawrot ...... 86 M. J. Maillis ...... 34 NORDKALK GROUP ...... 82 Julius Meinl International AG ...... 60 M. Kutsch Projectgesellschaft GmbH ...... 38 Norgips ...... 24 Jungheinrich Beteiligungs GmbH ...... 54 M.C. Building Chemicals Mueller&Partners ...... 80 Novartis AG ...... 37 Kalon Group BV ...... 38 Machinery Products and Development Holding B.V...... 45 Novo Nordisk Region Europe A/S ...... 58 Kappa Packaging ...... 28 MacoPharma ...... 71 NSK Europe Limited ...... 25 KARL BUBENHOFER AG ...... 62 Maersk ...... 43 Nutreco International B.V...... 51 Karl Konecke Fleischwarenfabrik GmbH & Co. KG . . . . .63 Magnaplast Hausabflustechnik GmbH ...... 68 Nykredit Realkredit A/S ...... 42 KBC Bank N.V ...... 10 MAHLE ...... 26 OAO Gazprom ...... 14 Kemira Kemi AB ...... 69 Malteries Soufflet S.A...... 49 OAO LUKOIL ...... 63 Kerakoll International B.V...... 51 MAN Nutzfahrzeuge AG ...... 32 OBI Heimwerkermarkt AG ...... 34 Kimball Electronics Manufacturing Inc ...... 42 Manuli Rubber Industries SpA ...... 45 Odra Industries ASA ...... 85 Kimberly Clark Worldwide ING ...... 33 MAPEI S.p.A...... 60 OKT Kunststofftechnik GmbH ...... 85 Kinepolis Group ...... 36 Marga B.V ...... 17 Onduline S.A...... 46 King Cross Group SRL ...... 47 Maria Prior - Nowak ...... 84 Optiroc Group AG ...... 33 Kingfisher ...... 23 Marks & Spencer ...... 62 Oracle Corporation ...... 65 Kingspan Holding Netherlands BV ...... 71 Marquard Media AG ...... 67 Oras OY ...... 63 KIPI ...... 49 Marriott ...... 65 Orfama ...... 55 Klif Holding A/S ...... 67 Mars Inc...... 20 Oriflame ...... 35 Klingspor GmbH ...... 43 Martela OYJ ...... 83 Orix Corporation ...... 52 Kludi Armaturen Austria GmbH ...... 59 Marubeni Co...... 76 Orkla Foods A.S...... 47 Knauf Verwaltungsgesellschaft KG ...... 24 MASA-Decor GmbH & Co. KG ...... 55 Orkla Press ...... 22 Kochloeffel GmbH ...... 71 Materne-Confilux S.A...... 85 Orsa Srl ...... 62 Kodak Ltd...... 65 Matsushita Electric Europe Ltd ...... 28 OSI International Holding GmbH ...... 82 Kofola a.s...... 48 Mc Bride plc ...... 44 Otis ...... 53 Kongskilde Industries A/S ...... 75 McDonald’s ...... 21 OTOR ...... 69 Koramic Building Products N.V...... 36 McLane International Inc...... 32 Ovattificio Resinatura Valpadana S.P.A...... 41 Kraft Foods AG ...... 29 Mecalux SA ...... 38 Overseas Enterprises Company Ltd...... 50 Kreisel GmbH ...... 48 MECAPLAST ...... 60 Owens-Illinois Inc...... 44 KRKA ...... 39 Media One ...... 30 P&T Technology AG ...... 52 Krono-Holding AG ...... 15 Mediafin ...... 87 PACTIV Corp...... 68 Kronospan Holdings Ltd...... 11 Mercurat Beteilgungs GmbH ...... 45 Pagh Morups Bornekonfektion APS ...... 63 Kruger GmbH ...... 51 Merrild Cafe ...... 54 Paletten Service Hamburg Beteiligungs GmbH ...... 85 KS Holding Hergiswil AG ...... 70 Messe Dusseldorf GmbH ...... 68 Pam-Gas BV ...... 25 KTR Kupplungstechnik GmbH ...... 85 Messer Griesheim GmbH ...... 42 Pan-Isovit ...... 87 Kuehne&Nagel Beteiligungs AG ...... 64 Metallurgica Assemblaggi Carpenterie (MAC) SpA . . . . .70 Pan Smak Pizza Inc...... 58 KUFNER TEXTILWERKER GmbH ...... 86 Metra ...... 58 PaperlinX Investments (Europe) Limited ...... 61 Kulczyk Investment BV ...... 44 Metro Group AG ...... 10 PARKER HANNIFIN GmbH ...... 57 Kurhssishe Gipswerke Peter Orth GmbH & Co. KG . . . . .80 Metsa Tissue OYJ ...... 35 PARKRIDGE HOLDINGS ...... 31 Kurt H. Schumacher A.G...... 39 Metzeler Automotive Profile Systems Europe GmbH . . . .51 Paroc Group ...... 31 KWH Group Ltd...... 48 Metzeler Italy ...... 75 Passauer Neue Presse ...... 24 KWW Ooachium Baumann KG ...... 78 Michael Bob GmbH ...... 87 Paul Hartmann AG ...... 53 L. Molteni & C.dei F.lli Alitti SpA ...... 67 Michael Leier ...... 38 Paul Wesjohann & Co. GmbH ...... 71 L.D.C. S.A...... 39 Michel Marbot ...... 52 Peacock Corporation ...... 64 L’Oreal SA ...... 32 Miebach Projekt GmbH ...... 68 PENNECOM ...... 37 La Fourmi ...... 68 Millenium Import LLC ...... 37 Pentor Communication International ...... 71 La Poste Group ...... 49 Millward Brown Group ...... 41 PepsiCo ...... 17 LACTALIS ...... 82 Min Hoong Development Co...... 41 Petro Carbo Chem AG (PCC) ...... 26 Lafarge ...... 13 Mitsubishi Corp...... 59 Petrofer Oil and Chemicals ...... 55 Landis + Gyr ...... 78 Mitsui & Co. Deutschland ...... 74 Peugeot ...... 87 Lannen Tehtaat OY ...... 82 Mitteldeutsche Energieversorgung AG (MAEG) ...... 57 Pfeifer und Langen ...... 33 Lantbrukarnas Ekonomi Aktiebolag ...... 50 Model Holding AG ...... 54 Pfleiderer AG ...... 18 Lear Corporation ...... 24 Moeller GmbH ...... 60 Philip Morris Holland B.V...... 15 Leca ...... 73 MOLEX Inc ...... 89 Pilkington International Holdings B.V...... 18 Lecce Pen Company SpA ...... 87 Morrison Knudsen Corporation ...... 87 PIONEER GLOBAL ASSET MANAGEMENT S.p.A. . . .47
92 page No. page No. page No. Pipelife Deutschland GmbH ...... 27 Sacal SpA ...... 84 Stora AB ...... 69 Plastal Group AB ...... 44 SAIAG SpA ...... 75 Stora Enso Oyj ...... 23 Plastiques Du Val de Loire ...... 46 Saint-Gobain ...... 12 Stroer Group ...... 47 Plastivaloire ...... 47 Saint Louis Sucre International S.A.S...... 21 Sud Wolle AG ...... 31 Plati Elettroforniture Spa ...... 65 Salamander Industrie Produkte GmbH ...... 51 Sudzucker AG ...... 38 Plaza Centers Europe B.V ...... 20 Same Deutz Fahr Holding and Finance BV ...... 34 Sulzer AG ...... 54 Pliva d.d...... 19 Sampo ...... 19 Sumitomo Electric Wiring System Europe Ltd...... 56 Plus Warenhandels Gesellschaft GmbH ...... 36 Samsung Electronics Co. LTD ...... 59 Summit Motors Investment U.K...... 62 Pneuhage Management GmbH & CO. KG ...... 68 Sanchez Computer Associates ...... 77 Suomi Mutual Life Assurance Company ...... 56 Podravka d.d...... 42 Sanden Corporation ...... 43 Superior International Resources Inc...... 61 Pol Nordic Group AS ...... 82 Sandvik AB ...... 57 Sven von der Heyden ...... 75 Pol Print Medien GmbH ...... 27 Sanitec Ltd. OY ...... 31 Svenska Handelsbanken AB ...... 25 Polam Holding BV ...... 43 Sanofi-Synthelabo S.A...... 42 Swedfund International AB ...... 61 POLARICA AB ...... 72 Sara Lee D/E N.V...... 70 Swedwood Holding BV ...... 19 Polen Invest A/S ...... 28 Saspol ...... 71 Swepol Link AB ...... 26 Polen Zement Beteiligungsgesellshaft GmbH ...... 61 SaurInternational ...... 73 Sydkraft AB ...... 36 Polimeni International ...... 37 Saxon Steel Distribution ...... 52 Sylea Italia Srl ...... 73 Polish Bakery Investment BV ...... 53 SCA Hygiene Products Holding GmbH ...... 32 Szwajcarski Fundusz Rządowy ...... 59 Polish-Pre-Ipo Luxemburg ...... 64 Scancem AB ...... 52 Tabella Holding BV ...... 50 Politra BU ...... 42 Scandia Leben Holding GmbH ...... 75 TAEPPELAND HOLDING A/S ...... 74 Polychem Isokierhandel GmbH ...... 66 Scania CV AB ...... 71 Takata Petri AG ...... 42 POLYTEC HOLDING AG ...... 68 Scanpol International ApS ...... 61 TALANX AG ...... 49 Porr International/Chopin ...... 41 Scheidt International GmbH ...... 84 Talego Holding BV ...... 62 Posten AB ...... 58 Schieder Europa Holding GmbH ...... 49 Tarmac ...... 31 Pratt & Whitney Canada ...... 41 Schliessanlagen GmbH Pfaffenhain ...... 85 TC Touristik GmbH ...... 85 Praxair Inc...... 31 Schmidt Holland BV ...... 64 Tchibo Frisch Rost Kaffee GmbH ...... 35 Premium Packaging Tiefdruck Produtions GmbH ...... 43 Schneider Electric ...... 60 TDC Mobile International A/S ...... 23 Procter & Gamble Mexico Holding ...... 19 Schoeller ...... 33 TECE GmbH&Co. KG ...... 55 Prodair Corporation ...... 50 Schoenfabriek Helioform Quality Shoes BV ...... 87 TEKNOPROD AB ...... 76 PROGRESS Technology and Holdings International B.V. .70 Schrader ...... 64 Teksid Aluminium Luxembourg S.a.r.l. S.C.A...... 33 Provident Financial Plc...... 26 Schulstad Brod A/S ...... 49 Telect Holdings ...... 48 Provimi Holding BV ...... 31 Schwarz Pharma AG ...... 78 Telediffusion de France International (TDF) ...... 61 Prudential Insurance Co. of America ...... 37 SCHWENK DAMMTECHNIK ...... 78 Telenor ...... 59 PSEG Global ...... 34 Seita ...... 20 TelePizza S.A...... 47 QAD Europe B.V ...... 74 Sektkellerei Schloss Wachenheim AG ...... 68 Telia AB ...... 16 Quarzwerke GmbH ...... 39 Selective American Financial Enterprises ...... 64 Tenneco Global Holding Inc ...... 35 Qubus Hotel System ...... 40 Seppeler Gruppe ...... 52 Teresio Guazzone Group ...... 49 R.R. Donnelley International Inc...... 25 Seregni SpA ...... 66 Terravita Holding Establishment ...... 74 Raben Group B.V...... 30 Sest Luve ...... 58 Tesco Plc ...... 10 Rabobank International Holding BV ...... 40 Severt Machinenbau GmbH ...... 77 Tessitura Bresciana ...... 45 Radson NV ...... 87 SFM Beteiligungen ...... 58 The Aluminium Powder Co. Ltd...... 87 Raiffeisen HaGe ...... 57 SFS INTEC HOLDING AG ...... 70 The Gates Corporation Denver ...... 40 Raiffeisen Zentralbank Osterreich AG ...... 18 Shell Gas (LPG) Holdings ...... 26 Thomson Tubes and Displays S.A...... 14 Raisio Group ...... 54 Shell Overseas Holdings Limited ...... 18 Thule Holding AB ...... 58 Rauschert ...... 77 Sheraton Warsaw Cooperation ...... 32 ThyssenKrupp Services AG ...... 81 Reed Elsevier Overseas B.V...... 56 Shiptrans Holding A/S ...... 71 TI Automotive Holding Ltd ...... 86 Reflex Winkelmann GmbH ...... 47 Sical S.A...... 58 Timken Company ...... 49 Reform Company ...... 31 SICES International B.V...... 57 Tishman Speyer Properties (TSP) ...... 46 Regis Rouselle ...... 82 Sicpa Commercial Inks Holding (Lux) S.A...... 74 TK Holding ...... 25 Reitangruppen A/S ...... 51 Sidney Braaksma ...... 78 TLH Verwaltungs- und Beteiligungs ...... 64 REMONDIS International GmbH ...... 37 Siemens AG ...... 16 TNT Post Group ...... 69 Renault Group BV ...... 47 Siemens Building Technologies AG ...... 60 Toho Industrial Co. Ltd...... 81 Repono Holding BV ...... 41 Sieper GmbH ...... 85 Tokai Rubber Industries Ltd. (TRI) ...... 49 Retail Investment Concepts, Inc ...... 38 Sika Finaz AG ...... 66 Tomkins Int’ Holding ...... 51 REWE Grossflachengesellschaft GmbH ...... 30 Simest ...... 36 Total Fina ElF S.A...... 63 Rexam Plc ...... 30 Simest SpA ...... 87 Tower Automotive Auslandsbeteiligungen GmbH ...... 58 Rheinisch Bergische Verlagsgesellschaft GmbH ...... 43 Simoldes Plasticos ...... 53 Toyo Seal Industries Co. Ltd...... 55 Rheinkalk GmbH & CO. KG Willfroth ...... 66 SINGSPIEL INVESTERINGEN B.V...... 20 Toyota ...... 14 Rial Aluguss ...... 50 Sino Frontier Properties Ltd...... 38 Toyota Boshoku ...... 67 Rieber and Son ASA ...... 57 Sirti ...... 77 TPM Transforma Projekt Management GmbH ...... 69 Rigips Austria GmbH ...... 27 SK Chemicals ...... 35 Trelleborg AB ...... 28 RMG Regel + Messtechnik GmbH ...... 52 Skandinaviska Enskilda Banken (SEB) ...... 28 Trepko A/S ...... 69 Robert Bosch GmbH ...... 28 Skanska Kraft AB ...... 18 Trusthouse Forte ...... 29 Robert Bosch Investment Nederland B.V...... 33 Smithfield Foods ...... 32 TRW AUTO HOLDINGS INC...... 25 Robert Lewis ...... 33 SMITHS GROUP AEROSPACE ...... 62 Tryg-Baltica A/S (Nordea Group) ...... 39 ROCA Radiadores ...... 36 Societe Europeenne De Conserve S.A...... 45 Tsubaki Nakashima ...... 46 Rockwool ...... 27 Societe Generale S.A...... 29 Twentshe Kabel Holding ...... 73 Rodamco ...... 18 Societe Nationale D’Electricite et de Thermique (SNET) .23 UCI Multiplex BV ...... 37 Roeben Tanbaustaffe GmbH ...... 34 Sodexho Alliance ...... 77 Ulstein Holding ASA ...... 63 Rogner GmbH ...... 48 Solbit ...... 84 Unicon A/S ...... 86 Rolls-Royce Power Ventures Ltd ...... 86 Solvay ...... 59 Unicon AS ...... 52 Roltra Morse SpA Torino ...... 54 Sonion Mictrotronic A/S ...... 37 UniCredito Italiano SpA ...... 11 Rom Heribert ...... 84 SOPP GmbH ...... 89 Union Caffe Confectionary Group BV ...... 49 Roplasto ...... 62 Spectra ...... 63 Union Group A.S...... 43 Rossmann Ost Europe BV ...... 40 Spedimpex ...... 73 Union Knopf GmbH ...... 77 ROTO FRANK AG ...... 46 Spedition Trade Trans Holding GmbH ...... 77 Uniq plc ...... 78 Royal Ahold N.V...... 29 Sprick-Fahrrader GmbH ...... 60 UNIQUA International ...... 23 Royal Group Technologies ...... 33 Stadtwerke Leipzig GmbH ...... 71 Unisys Corporation ...... 40 Royal Numico N.V...... 64 Stahlschmidt & Maiworm ...... 28 United Biscuits Investments ...... 45 Royal Philips Electronics N.V...... 14 Staight Crosing ...... 59 United Entertainment ...... 69 Ruhrgas A.G ...... 45 Stalco Holding GmbH ...... 88 United Pan-Europe Communications N.V...... 11 Rumeli Group ...... 32 Stanley Works ...... 80 United Parcel Service Inc. (UPS) ...... 87 Ruukki OY ...... 47 Stapelmann GmbH ...... 48 United Technologies Holding S.A...... 20 RWE Plus AG ...... 15 Statoil ...... 14 Uponor Group ...... 42 RWE Solutions Frankfurt ...... 61 Steijn Design BV ...... 65 US Pharmacia ...... 63 RWE Umwelt Services Deutschland GmbH ...... 56 Steinhoff Europe AG ...... 46 Uzin UTZ AG ...... 69 S&T System Integration & Technology Distribution AG . .64 STIHL International GmbH ...... 67 Valeo ...... 23 SABMiller Plc ...... 29 STO AG ...... 51 Valfond ...... 73
93 page No. page No. page No. VALIN PARTICIPATIONS ...... 57 Voith Turbo Vertriebsgesellschaft GmbH ...... 67 Wiener Staedtische Allgemeine Versicherung AG ...... 44 Valmont Industries Inc...... 81 Volkswagen AG ...... 12 Wienerberger Ziegelindustrie AG ...... 82 Vattenfall AB ...... 11 Volvo AB ...... 25 Wilkosz ...... 82 Veka AG ...... 31 Vorwerk ...... 80 Wincanton European Transport Services B.V...... 43 Velux A/S ...... 85 WABCO Europe B.V...... 36 Windjammer Investments B.V...... 42 Veneer Design International ...... 73 Waldemar Żurawski ...... 82 Winterthur Insurance ...... 27 Verizon ...... 59 Walter-Heilit Verkehrswegebau GmbH ...... 66 Wm. Wrigley Jr. Company ...... 21 Vetoquinol ...... 58 WANZL Metallwarenfabrik GmbH ...... 81 Wolters Kluwer Int. Holding B.V...... 86 VIESSMANN Werke GmbH & Co KG ...... 49 Warimpex ...... 41 Wuestenrot AG ...... 55 Vin & Spirit AB ...... 35 Was Wietmarscher ...... 77 Xella Porenbeton Holding GmbH ...... 33 VINCI Construction ...... 87 Wavin Trepak BV ...... 70 Xerox Ltd...... 54 Visteon Automotive Systems ...... 32 Weber GmbH & Co. KG ...... 62 YAGI Industries Co. Ltd ...... 58 Viterra Energy Services AG ...... 39 Wentworth Technologies Co. Ltd...... 50 YellowTel A/S ...... 83 Vivendi Universal ...... 11 Wesermo ...... 68 YKK Holding Europe ...... 56 Vodafone Americas Asia Inc...... 23 West Landesbank AG (WestLB AG) ...... 32 Zeelandia International Holding B.V...... 58 Vogel & Noot Waermetechnik AG ...... 46 Westinghouse Electric Corporation ...... 61 Zott GmbH&Co KG ...... 37 Voigt & Schweitzer ...... 71 Whirlpool Europe Srl ...... 27
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Polish Information and Foreign Investment Agency ul. Bagatela 12, 00-585 Warsaw Poland Tel.: (+48 22) 334 98 00 Fax: (+48 22) 334 99 99 E-mail: [email protected] www.paiz.gov.pl
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