Paged ends consolidation within the furniture group

APA - Austria Presse Agentur
14-04-2006, 15:52

Warsaw (Puls Biznesu) – Paged, the listed furniture producer, wants to merge its companies into one entity. Paged Sklejka board producer will invest more than planned.

Warsaw (Puls Biznesu) – Paged, the listed furniture producer, wants to merge its companies into one entity. Paged Sklejka board producer will invest more than planned.

 

Paged group, which is controlled by a private investor Edmund Mzyk, is going to end the consolidation of its furniture subsidiaries till the end of the third quarter.

“It will found one company from all furniture firms from the group. Paged Fabryki Mebli will be the consolidation party”, Krzysztof Bukowski, Paged CEO said.

The management believes that the merge will allow to avoid competition among the companies from the same group, to better use the potential and employees. The investment in the furniture unit will amount to PLN 3m (EUR 762,000). The company wants to increase its presence in the USA and in the East, including Russia and Kazakhstan. The group will be joined by a producer of high-quality furniture. Paged plans to buy a company with annual sales of PLN 12m and 20-percent growth potential.

“We will spend several million zlotys to buy it. It is very profitable”, Paged CEO said.

The group is interested in Swarzedz brand, but the management believes that the listed furniture producer is overevaluated.

 

The company will spend much more to buy the biggest board producer in Poland – Sklejka Pisz, which is going to be privatized via the stock exchange.

“The investment program amounts to PLN 6m at the moment”, Edmund Mzyk said.

He added, however, that there are 20 percent more employee in Sklejka Pisz while sales are 15 percent lower. Paged group plans to have PLN 20.35m of net income against PLN 333.95m of sales.

(PLN 1 = EUR 0.254)

 

 

© ℗
Rozpowszechnianie niniejszego artykułu możliwe jest tylko i wyłącznie zgodnie z postanowieniami „Regulaminu korzystania z artykułów prasowych” i po wcześniejszym uiszczeniu należności, zgodnie z cennikiem.

Podpis: APA - Austria Presse Agentur

Polecane

Inspiracje Pulsu Biznesu

Puls Biznesu

Inne / Paged ends consolidation within the furniture group