PBG raises its forecasts

APA - Austria Presse Agentur
12-10-2006, 13:14

Warsaw (Puls Biznesu) – The company plans to acquire a Slovakian engineering firm and Polish companies specializing in road building. Next year, PBG is going to issue new shares.

Warsaw (Puls Biznesu) – The company plans to acquire a Slovakian engineering firm and Polish companies specializing in road building. Next year, PBG is going to issue new shares.

PBG, a company specializing in installations for different sectors of industry, raised its financial forecast from PLN 47.3m of net income to over PLN 52m (EUR 13.3m).

“Sales results are over 10 percent better than planned before so we raised the forecasts”, Jerzy Wisniewski, PBG CEO and main shareholder said.

The company is going to sign new big contracts in, among others, Norway. Today, it has PLN 1.6 billion of orders but this amount may grow by 500-600m till the end of this year.

Good market encourages further investments.

“That’s why we want to acquire an engineering company from Slovakia”, Jerzy Wisniewski said.

PBG will also probably buy Polish companies dealing in road building.

“Timing is good for acquisitions in this sector. We think about five companies. We would increase their capital” the CEO added.

In addition the PBG Group is going to merge Hydrobudowa Slaska with Hydrobudowa Wloclawek, which means that the latter will be listed. Both companies deal in the environmental sector. The CEO said that to implement these plans, an issue is planned.

“It will be conducted in 2007, most probably in the first quarter”, Jerzy Wisniewski said.

He refused to say how big the issue would be but declared that he won’t give up the majority he has at the GSM.

(PLN 1 = EUR 0.255)

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Podpis: APA - Austria Presse Agentur

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