NOMI to continue investing

Alan Heath
10-12-2001, 00:00

Shareholders of DIY chain NOMI, which is 99 percent owned by the Dutch Eijsvogel, will be making a decision at their general meeting on 28 December about adding an extra PLN90m to the capital of the company. This would increase the capital base of the firm from PLN42.3m to PLN132.3m.

The funds are necessary for a five year plan, the aim of which is to increase the amount of stores. The investor will be the British Kingfisher which owns Eijsvogel.

The company currently has 33 outlets in Poland. The plan foresees an increase to fifty or sixty stores.

Pawel Kiełczykowski, financial director of DIY chain Praktiker considers expansion to be a major error given the current slump in sales.

Indeed NOMI does not pretend that all is OK. on the market but believes that the current slump is only temporary.

The main products offered by NOMI are home interior and garden furnishings as well as tools, DIY goods and similar products.

The company currently employs over 1,600 people and its main competitors are Praktiker, Leroy Merlin, OBI and Castorama.

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