Warsaw (Puls Biznesu) – Homag Machinery Sroda (HMS), the subsidiary of German furniture machines producer, is developing. The plant will be enlarged although the Polish unit is not profitable. Andrzej Urbanczyk, HMS deputy CEO said that Poland won with Slovakia and the Czech Republic.
“The project is worth PLN 20m. It will be co-financed from EU funds: the subsidy will amount to PLN 2.7m (EUR 685,800)”, Andrzej Urbanczyk said.
He refused to give financial details concerning HMS.
“They deteriorated because we exported 100 percent of our production and the euro/zloty exchange rate fell. We have big losses but the owner decided to invest in Poland”, the deputy CEO said.
The new facility is going to be 12,500 square meters big. Another subsidiary of a German company: Zueblin Polska, will execute the construction works.
(PLN 1 = EUR 0.254)