Italian Toora plans to spend PLN 100m within two years

APA - Austria Presse Agentur
opublikowano: 13-10-2005, 17:56

Poland: Warsaw (Puls Biznesu) – Toora, the Italian producer of aluminium parts for passenger cars, is going to invest PLN 100m (EUR 25.6m) till the end of 2007.

Poland: Warsaw (Puls Biznesu) – Toora, the Italian producer of aluminium parts for passenger cars, is going to invest PLN 100m (EUR 25.6m) till the end of 2007.

Funds will be mainly spent to raise production in our plant in Nisko, Renzo Poli, Toora Poland CEO said.The company is also going to start production for trucks. Moreover, it would like to launch a research and training centre in Poland. Since 2002, when Toora entered Poland, the company has invested PLN 180m.Analysts believe that aluminium will be more and more popular in automotive industry in the future.The company must bear in mind that competition in Poland is big, especially as far as wheel covers are concerned, Rafal Orlowski from the Polish Automotive Chamber PIM said.Toora is going to be listed in Warsaw stock exchange. In the middle of September, it submitted its issue prospectus to the securities and exchange commission.We hope the IPO will be possible as early as this year, Giovanni Natali, the member of Toora Poland supervisory board said.Toora group has sales of EUR 100m. It has plants in Italy and Poland, employs 1,000 people including 600 in Poland. Last year, Toora Poland had sales of PLN 143.9m against PLN 57m in 2003. The income amounted to PLN 15.2m last year.(PLN 1 = EUR 0.256)

Poland/Enterprises/Automotive

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