Plast Box listed plastic packages producer plans investments

APA - Austria Presse Agentur
08-08-2006, 10:18

Warsaw (Puls Biznesu) – Plast Box has concluded the restructuring program and thinks about investment.

Warsaw (Puls Biznesu) – Plast Box has concluded the restructuring program and thinks about investment.

According to “Puls Biznesu” sources, the EBITDA of listed Plast Box exceeded PLN 2m (EUR 516,528) in the second quarter. The sales of the producer of plastic packages rose by nearly 20 percent from PLN 12.1m a year ago. The company had a substantial operational income and net income while a year ago it had a loss.

“We are publishing our second quarter results on August 14 but I can confirm that the company is back profitable. Investments in the construction sector have increased substantially, which helps our business. In addition, our foreign sales are growing rapidly and amount for half of the company’s sales. In July, these positive trends continued so I expect it in the whole second half of this year”, Waldemar Pawlak, Plast Box CEO said.

In the last 12 months, the company has been conducting restructuring in order to be profitable despite rapid growth in oil prices.

“There are effects already. We looked for savings everywhere. We reduced, among others, the quantity of wastes to below 2 percent of the production, which gives EUR 150,000 of savings annually. We now have good conditions to develop. That’s why we are considering the acquisition of new technologies worth about EUR 2m which would even double the profitability of our machines”, Plast Box CEO stressed.

The company’s Ukrainian subsidiary is also profitable.

“The company earns its living and sales grow 40 percent every month. After six months of operations, the sales exceeded USD 1m. We showed our offer during fairs in Moscow and Kiev. The effect was immediate. We are very close to finalizing big contracts for Kazakhstan and we are talking about next ones”, Waldemar Pawlak added.

(PLN 1 = EUR 0.258)

 

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Podpis: APA - Austria Presse Agentur

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