Printer Friendly

KPMG SERVES AS PRIMARY CONTRACTOR: GOVERNMENT AGENCY AWARDS CONSORTIUM FIRST CONTRACT TO PROMOTE PRIVATIZATION IN FORMER SOVIET UNION

 WASHINGTON, June 23 /PRNewswire/ -- The U.S. Agency for International Development (AID) today awarded a consortium of leading companies to be premiere providers of privatization support in 12 countries throughout the former Soviet Union. The consortium will work to attract investment in former government-owned businesses in the region, offer trade policy advice, provide technical training and help run mass education programs on privatization.
 KPMG Peat Marwick's Policy Economics Group (PEG) is the organizer and driving force behind the consortium, and serves as its prime contractor. Other companies in the consortium include J.P. Morgan, Bectel, SAIC, Inc. and Bain & Company.
 "The proposed privatization programs in these nations of the former Soviet Union represent probably the largest asset sale in the history of the world," says Roger Leeds, partner in charge of privatization services for KPMG-PEG.
 "The World Bank estimates that the Russian Republic alone has over 25,000 medium and large industrial and agro enterprises which need to be privatized. Many will seek foreign investment," he explains. "The consortium will provide the transfer of knowledge and technical assistance needed to accelerate this historic transformation into competitive market economics."
 Leeds believes the consortium was awarded the contract because of the superiority of its technical proposal, the quality and experience of its members and the reputation of KPMG-PEG for privatization work throughout the world.
 KPMG-PEG has supported privatization initiatives in more than 20 countries including in the NIS and Eastern Europe, and played a critical role in the design and implementation of mass privatization programs in Eastern and Central Europe.
 KPMG Peat Marwick has worked on more than 5,000 enterprises around the world that were designated for privatization in a broad range of industries including defense, oil and gas, light industry, heavy manufacturing, finance and agribusiness.
 "The NIS has embarked on a course of immediate and simultaneous economic and political reform that is unprecedented by any historical standard," says Leeds. "With virtually no institutional memory, they must rely heavily on outsiders to assist in this transition. We are eager to meet this complex array of challenges."
 KPMG Peat Marwick, the U.S. practice of the world's largest professional services firm, is the global leader in providing a complete range of value-added assurance, tax, international and improvement services. The firm provides these services to businesses and corporations in manufacturing and distribution, information and communications, financial services, healthcare and life sciences, government and special markets.
 -0- 6/23/93
 /CONTACT: Kevin Kelly of KPMG Peat Marwick, 212-909-5108, or Jack Mello of Dorf & Stanton, 212-420-8100 or 800-223-2121, for KPMG Peat Marwick/ CO: KPMG Peat Marwick ST: New York, District of Columbia IN: FIN SU: CON


LR-MP -- NY036 -- 4976 06/23/93 11:33 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 23, 1993
Words:450
Previous Article:QUICK & REILLY GROUP REPORTS EARNINGS UP 51 PERCENT OVER LAST YEAR
Next Article:COMCAST CORPORATION ANNOUNCES PROPOSAL TO MERGE WITH PHILADELPHIA CABLE SUBSIDIARY
Topics:


Related Articles
U.S.-BASED PRIVATIZATION TEAM SIGNS CONTRACTS TO CONVERT RUSSIAN DEFENSE COMPANIES
PEAT MARWICK AWARDED CONTRACT
MORRISON KNUDSEN ACQUIRES STAKE IN FORMER EAST GERMAN MINING COMPANY
FIRST VIETNAM CONTRACT TO U.S. FIRM AWARDED; KPMG PEAT MARWICK SELECTED FOR GOVERNMENT'S REFORM WORK
RUSSIA'S RED OCTOBER CANDY MAKER SEEKS STRATEGIC INVESTOR
Privatization: American style.
1996 TREND IN WORLDWIDE PRIVATIZATION AND PUBLIC-SECTOR PROJECTS: AIM TO 'RE-INVENT THE OLD AND CONSTRUCT THE NEW'
Aiding the European Union: who really benefits?
Raytheon Awarded Defense Threat Reduction Agency Contracts Valued in Excess of $131 Million.
National Institutes of Health Awards KPMG Consulting For Outstanding Performance Under CIO-SP2 Contract; In its First Year, KPMG Consulting is One of...

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters