Indykpol turkey producer sells land, invests in production

APA - Austria Presse Agentur
opublikowano: 21-03-2005, 14:28

Warsaw (Puls Biznesu) – Indykpol, Poland’s biggest turkey meat company, listed on the stock exchange, is going to sell some of its lands to Macro Cash and Carry. Negotiations are ongoing, but are nearly finalised. ‘We should close the operation in this half of the year’, Krystyna Szczepkowska, Indykpol spokesperson said.

Warsaw (Puls Biznesu) – Indykpol, Poland’s biggest turkey meat company, listed on the stock exchange, is going to sell some of its lands to Macro Cash and Carry. Negotiations are ongoing, but are nearly finalised. ‘We should close the operation in this half of the year’, Krystyna Szczepkowska, Indykpol spokesperson said. Funds from the transaction will be spent to increase capacity. Indykpol will modernise its three plants in Olsztyn, Swiebodzice and Lublin. The projects will be worth PLN 50-60 m (EUR 12.3-14.7 m).

Indykpol sell nearly 75 percent of Polish turkey exports. Cheap euro adversely affects the company. Its share price has halved in the recent months to PLN 50. ‘First quarter financial report will prove that our stock is a save investment’, Krystyna Szczepkowska assured. If shares fall to PLN 42, Indykpol may start buy back of up to 300,000 shares, or nearly 10 percent of its capital.

(PLN 1 = EUR 0.245)Poland/Enterprises/Food

 

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Podpis: APA - Austria Presse Agentur

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