Croatian Podravka further develops in Poland

APA - Austria Presse Agentur
opublikowano: 07-02-2005, 11:49

Warsaw (Puls Biznesu) – Podravka, Croatian listed food company, the producer of Vegeta seasoning, is going to double its production in Poland within two years.

Warsaw (Puls Biznesu) – Podravka, Croatian listed food company, the producer of Vegeta seasoning, is going to double its production in Poland within two years.

The company has closed its plant in Hungary. In 2004, its plant in Polish Kostrzyn increased production by nearly 30 percent. This year, it should be similarly. ‘We are planning to increase EU exports. It applies to Vegeta products and to Garnello products’, Neli Groza, the CEO of Polish Podravka unit said. Garnello is the brand created in Poland. It is used for seasonings and ketchup produced by several Polish subcontractors, including Dawton and Octim.

‘We will soon start selling new products in Poland. In 2005, the marketing budget will increase by 40 percent’, Neli Groza added. Moreover, Podravka is looking for possible acquisitions in Poland. It is talking to several companies. The Croatian company does not exclude listing on the Polish bourse. Rumours say, an IPO in Poland could be conducted in the middle of the year. ‘The company is ready to be listed on any bourse. Whether it happens and whether this is the Warsaw stock exchange, depends on the supervisory board’, Sasa Blazekovic, corporation director in Podravka said. Podravka does not reveal its financial results in Poland. But sales in Poland constitute 5-6 percent of the sales of the whole company, which means PLN 100 m (EUR 25.1 m) is generated in Poland.

(PLN 1 = EUR 0.251)Poland/Enterprises/Food


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