THIS IS A SPECIAL NEWS BULLETIN FROM: _______________________________________________________________ AutoNewsFast(TM) The Special Email News Bulletin Service of the CENTRAL EUROPE AUTOMOTIVE REPORT-CEAR.COM(TM) The Source For Automotive Information On Central Europe(TM) On The Web at http://www.cear.com (TM) or Email: cetmpr@ibm.net _______________________________________________________________ NOTICE OF COPYRIGHT By opening this file or attachment you are agreeing to be bound by the terms in this paragraph. The entire contents of AutoNewsFast(TM) in print, and all electronic file formats are copyrighted 1998 by Central European Trade & Marketing, L.L.C. with all rights reserved. Reproduction, Electronic or Print Forwarding in any format, or use in any form, without permission is prohibited. ***Begin Bulletin*** ZASADA SIGNS AGREEMENT WITH GOVERNMENT FOR HYUNDIA ASSEMBLY IN POLAND On March 2, the Ministry of Economy announced that on February 28, Sobieslaw Zasada Centrum signed with the ministry an agreement concerning production of Hyundai passenger cars. Signing the agreement, however, does not mean that Zasada will automatically receive permission to import parts for assembly -- the company must proceed with an investment plan. Unofficially, this may be a CKD factory for the Atos model in Starachowice (DM 120 million or DM 220 million according to different sources). CZECH GOVERNMENT PREPARING INCENTIVE PACKAGE FOR INVESTORS The Czech Republic is in the process of creating an incentives package which may affect any company investing more than $10 million in the Czech Republic. Included will be tax deferrals and credits, re-training and job creation grants, and VAT deferral on hi-tech equipment imports. The new package may be approved by the Czech government by the end of March. REORGANIZATION OF MMG AUTOMATIKA & BAKONY UNDERWAY Bankar Holding is carrying out its reorganization plan for the two Hungarian auto component manfacturers it purchased at the end of last year -- MMG Automatika and Bakony. Bankar's plans include a massive reduction of employees, identifying core business segments, introducing a productivity and cost reduction program, and benchmarking. Bankar expects to consolidate the companies within 12 months, strengthen their market presence, and involve strategic partners. "We are confident of being able to attract strategic investors to the region," said Roland Palko, marketing consultant for Bankar-Sebesvari Management Consulting Ltd. For more on these and other stories, see the next issue of the CENTRAL EUROPE AUTOMOTIVE REPORT-CEAR.COM(TM). ****End Bulletin**** ************************************************************************** AutoNewsFast(TM) Special News Bulletin Service is delivered weekly and is a service of the CENTRAL EUROPE AUTOMOTIVE REPORT-CEAR.COM(TM). You may be receiving this service on a free trial basis. Contact for details, order information, and sample issues of the CENTRAL EUROPE AUTOMOTIVE REPORT(TM). ***** Remove From List If at any time you would like your address removed from this list, simply reply with "Remove" and you will be removed. Please be sure to reply from the address this message was mailed to. IMPORTANT: If your mail is forwarded from another address, please include the specific address that we mailed to in your reply. We apologize for any inconvenience.