Hortex confirms its Russian investment project

opublikowano: 13-02-2007, 15:58

Warsaw (Puls Biznesu) – First a freezer, than a facility maybe – these are the plans of the Polish producer of juice and frozen food in the East.

Warsaw (Puls Biznesu) – First a freezer, than a facility maybe – these are the plans of the Polish producer of juice and frozen food in the East.

Hortex Holding which has a new owner, i.e. Argan Capital fund, plans big investments and considers acquisitions which would let it enter completely new markets.
“The financial year 2005/06 ended in May was very good for us. We increased sales 16 percent to PLN 610m (EUR 155.7m) and had PLN 11m of net income. This year, the sales dynamics are even bigger. We expect sales will grow to PLN 735m”, Tomasz Kurpisz, Hortex Holding CEO said.
He confirmed earlier news published by “PB” concerning an investment in frozen food production in Russia.
“Because of a great potential of this market and increasing political risk concerning exports to Russia, we consider the possibility to launch production in this country. First, we will probably launch a freezer there. Then a production facility could be launched”, Tomasz Kurpisz explained.
The management is currently considering whether to build a brand new freezer or buy an existing one.
The company is also one of Poland’s biggest juice producers.
“In 2006 we managed to increase sales of juices and beverages to 15.6 percent of the market, or the same level as rival Agros Nova. We want to increase the share to 20 percent within two years”, Tomasz Kurpisz added.
This may be partly achieved thanks to acquisitions.
(PLN 1 = EUR 0.255)

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