Barlinek floor producer plans big investments

MG
08-10-2007, 10:09

Warsaw (Puls Biznesu) – The floor producer will soon announce a new project in Russia. It is also planning investments in  Romania.

Barlinek has bought an investment land in Russia only recently but it already plans expansion in other regions.

“I’m in Romania at the moment. We are checking this market as far as further investments are concerned”, Mariusz Gromek, the company’s chairman said.

The company may either invest in a greenfield project or acquire an existing company.

Moreover, this month, the listed floor producer will reveal what else it is going to produce in its plant to be founded in Russian Tsherepovce where it is investing PLN 260m (EUR 68.9m).

“I cannot say more but the new project will cost nearly the same”, Mariusz Gromek said.

 Investors, however, worry about this year’s forecasts which have already been revised down once. Last year, the company did not meet its forecasts. The management expects PLN 510.5m of sales and PLN 65.4m of net income. In the first half of the year, it generated PLN 229.2m of sales and only PLN 26.4m of net income.

“We have no reason to verify the forecasts once more. We had a very good third quarter, especially September”, Mariusz Gromek calmed down.

In his opinion, the fourth quarter should be record because Barlinek is now selling floor boards from its Ukrainian plant where production was supposed to be launched in 2008.

(PLN 1 = EUR 0.265)

 

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