Budopol Wroclaw to start new businesses

12-03-2008, 10:59

Warsaw (Puls Biznesu) – The company from Wroclaw wants to start construction projects in road building and installations.

Budopol Wroclaw, a company whose 33 percent is owned by listed Gant, plans acquisitions.

“We are running preliminary talks to acquire a road building company from Western Poland and an installation company from Wroclaw. We may buy 100 percent of their shares”, Miroslaw Motyka, the company’s CEO said.

“Road building is an interesting option but Budopol has no experiences in this field so it may be risky. Investors may be cautious because Budopol recently bought 300,000 shares of Storm at PLN 14 (EUR 3.9) each and today they cost PLN 5”, Grzegorz Kujawski, BM BGZ analyst said.

The CEO hopes to finalize the acquisitions this year.

“We could buy the road building company for cash. If it turns out that we need more money for the second acquisition, we will ask investors for funds. The installation company could be bought jointly with Gant”, the CEO added.

The company does not publish its forecasts. According to BM BGZ analysts, Budopol will have PLN 9m of net income against PLN 149.4m of sales.

(PLN 1 = EUR 0.282)

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