ABSTRACT
The experience of Uniontex, a producer of cotton textiles, shows the problems faced by the “dinosaurs” of Polish industry, the large state-owned enterprises that are seen as relics of the past. Uniontex enjoyed stable demand for its products until 1989. It exported 12–15 percent of its own production and even more indirectly, in the form of Polish clothing-industry exports that incorporated its textiles, to the Eastern markets. Uniontex is one of the oldest companies in the Polish textile industry. The financial difficulties of Uniontex forced it to devise ways to maintain control over its receivables. The assets, liabilities, and receivables of Uniontex were divided so that 65 percent remained with Uniontex and 35 percent were transferred to Wester. Prior to the recession, the weaving department operated exclusively using yarn provided by the spinning department of Uniontex, but when difficulties began to intensify, the weaving department began to diversify its production.
