Centrozap has two options

01-09-2008, 10:17

A stock exchange in Warsaw or Vienna or a bond issue – this is how Centrozap may finance its PLN 300m (EUR 89.7m) investments in Russia.

Centrozap is the first company to have left the stock exchange several years ago and to plan a comeback now. It is no longer a mould casting group but a company operating on the wooden market. Centrozap has concession to exploit woods in Russian Komi Republic. Now, it plans an investment in a new factory.

“The wooden market is one of the most promising businesses in Europe. In Poland, the deficit amounts to 5m cubic meters, and it may grow further. In other European countries, the situation is even more difficult”, Jaroslaw Latach, Centrozap spokesman said.

The company will build a wood processing factory for PLN 300m. It may raise funds for this project in Warsaw or Vienna. The company may also issue bonds.

Access to wood is one of the most important issues today. Barlinek floor producer is going to spend PLN 300m for a board factor in Russia, and then build a floor plant worth PLN 200m.

(PLN 1 = EUR 0.299)

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