USTDA GRANT SUPPORTS CHEMICAL SECTOR IN POLAND

FOR IMMEDIATE RELEASE

WARSAW, POLAND (September 22, 2004) – Yesterday, the U.S. Trade and Development Agency (USTDA) awarded a $218,000 grant to Dwory S.A., a Polish chemical company, to partially fund a feasibility study on expanding production of styrene and polystyrene at the company’s plant in Oswiecim, Poland. The grant was conferred in a signing ceremony at the office of the Commercial Section of the U.S. Embassy in Warsaw. Commercial Attaché David McNeill signed the grant agreement on behalf of the U.S. Government and President of the Board, Zdzislaw Ingielewicz, signed on behalf of Dwory S.A.

“This grant represents a continuation of USTDA’s long history of support for commercial development in Poland generally and Dwory in particular,” said USTDA Regional Director for Europe Ned Cabot. “It builds on the work done last year in a USTDA-funded Synthetic Rubber Expansion Feasibility Study and will provide Dwory with critical information that it needs to support the company’s expansion efforts.”

Dwory, one of the largest producers of synthetic rubber and polystyrene in Europe, is planning to increase its production. The USTDA-funded study will determine the technical, economic and marketing feasibility of expanding Dwory’s existing styrene monomer production capacity and using added styrene capacity to increase production of expandable polystyrene and synthetic rubber. According to Mr. McNeill, “The additional production of these two chemicals will help Dwory retain and potentially grow its market share for two of its main products and will improve the competitiveness of Dwory’s planned rubber plant expansion.” Nexant, Inc. of White Plains, New York will perform the study. Dwory and Nexant will contribute additional resources toward the completion of the study.

The U.S. Trade and Development Agency advances economic development and U.S. commercial interests in developing and middle-income countries. The agency funds various forms of technical assistance, feasibility studies, training, orientation visits and business workshops that support the development of a modern infrastructure and a fair and open trading environment. USTDA’s strategic use of foreign assistance funds to support sound investment policy and decision-making in host countries creates an enabling environment for trade, investment and sustainable economic development. In carrying out its mission, USTDA gives emphasis to economic sectors that may benefit from U.S. exports of goods and services. Over the last 14 years, USTDA has invested more than $26 million in projects designed to facilitate Poland’s development.

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