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MÁV faces restructuring in the mid range

Hungarian Railways MÁV Rt must go through a restructuring phase in the next few years, chairman-general manager Gyula Gaál said. MÁV will keep its infrastructure, but the company's freight and passenger transportation branches must be privatized after 2006, Gaál said. MÁV must also spend 7.6 million Euros in the next eight years on development to renew the company, Gaál said. At the same time the current number of 47,000 employees must be cut by 20%, Gaál said. (Wed. Vg 13) M.K.