Supervisory board of Ceramika Nowa Gala approved of this year’s budget. It did not make decision, however, to substantially develop the plant of Ceramika Gres which was acquired in 2007.
“We will closely watch the market. There is a small uncertainty and we don’t want to risk”, Pawel Gornicki, Nowa Gala deputy CEO explained.
He added that final decision will be made in the second quarter. Ceramika Nowa Gala, the listed tile producer, had planned to invest PLN 20m (EUR 5.6m) to increase Ceramika Gres capacity from 8.9m square meters of tiles to 10.9m. Nowa Gala will surely invest about PLN 10m to modernize its oldest plant, Ceramika Nowa Gala I.
(PLN 1 = EUR 0.280)