Pepees invests in starch production, sells Lomza brewery

APA - Austria Presse Agentur
opublikowano: 16-11-2006, 11:47

Warsaw (Puls Biznesu) – Pepees plans big investment projects to develop the production of starch and bioethanol. It will sell a stake of Lomza brewery to finance the projects.

Warsaw (Puls Biznesu) – Pepees plans big investment projects to develop the production of starch and bioethanol. It will sell a stake of Lomza brewery to finance the projects.  

The listed producer of potato products (including starch and syrups) for the food and pharmaceutical sectors has presented its strategy for the years 2007-11. The document provides for further development of starch production, however not from potatoes as today but from the grain as well.

“We want to invest PLN 70m (EUR 18.3m) in the grain starch plant and some related products like bioethanol”, Andrzej Kielczewski, Pepees CEO said.

Bioethanol will be  produced from production wastes. The production of grain starch is a must because Poland has too low EU limits for potato starch.

Pepees is going to finance the projects from four sources, including its own funds, EU funds, a credit but mainly from selling a minority stake of Lomza brewery. The stock of the brewery with 2 percent market share will be sold in and IPO.

“We have already started preparations for the company’s listing. The IPO is possible in the second quarter of 2007”, Andrzej Kielczewski believed.  

Pepess hopes that the investment will allow it to double sales within 4-6 years. In 2010 sales would amount to over PLN 143m against PLN 73m in 2007. In the first three quarters of this year, Pepees had PLN 140m of sales and PLN 3.3m of net income. Beer sales generate half of the sales.

(PLN 1 = EUR 0.262)

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Podpis: APA - Austria Presse Agentur

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