Elstar Oils invests PLN 120m in biofuel

APA - Austria Presse Agentur
25-04-2006, 15:44

Warsaw (Puls Biznesu) – Elstar Oils will soon issue its shares. The company is raising money to invest in biofuel production.

Warsaw (Puls Biznesu) – Elstar Oils will soon issue its shares. The company is raising money to invest in biofuel production.

 

In May or June, Elstar Oils, Poland’s listed edible oil producer, will offer its new shares to investors. The company will issue 438,000 shares, or 10 percent of the capital.

“The issue price will be set later”, Stanislaw Rosnowski, Elstar Oils CEO said.

The company will invest PLN 100m (EUR 25.9m) to raise its capacity. The plants in Malbork and Czernin will be developed. Elstar Oils will also build a new plant in Walbrzyska Special Economic Zone. The investment program provides for PLN 120m of projects. The issue will bring about PLN 50m. The company will also have credits.

 

(PLN 1 = EUR 0.259)

 

 

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Podpis: APA - Austria Presse Agentur

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