Within a month, listed Bytom should buy from the Ministry of the Treasure the remaining 25 percent it does not already have of Dolwis silk producer.
“If we manage to buy the remaining stake, we will list Dolwis in 2009”, Tomasz Sarapata, Bytom CEO assured.
The company is also going to buy Warmia, the producer of coats.
“In April, the company will be evaluated and in the middle of the year most probably, the Ministry of the Treasure will announce a tender to sell it”, Tomasz Sarapata said.
Bytom pledges to invest at least PLN 10m (EUR 2.6m) in the company within five years. It will develop Warmia’s chain to about 50 shops.
In 2006, Bytom group had PLN 8.1m of net income against PLN 68.9m of sales. This year, the forecast amounts to PLN 4.7m of net income and PLN 86m of sales (the estimates do not include the acquisition of Warmia).
(PLN 1 = EUR 0.258)