Poland: Irena glass plant to be saved by its three shareholders

APA - Austria Presse Agentur
opublikowano: 18-02-2005, 16:00

Warsaw (Puls Biznesu) – On Tuesday, the financial shareholders of Irena, Poland’s biggest crystal producer, will introduce their representatives to the supervisory board of the company. ‘We want to restructure the company’, Bogdan Krolewski, the CEO of Minex, Irena biggest shareholder said. Until now Minex managed Irena.

Warsaw (Puls Biznesu) – On Tuesday, the financial shareholders of Irena, Poland’s biggest crystal producer, will introduce their representatives to the supervisory board of the company. ‘We want to restructure the company’, Bogdan Krolewski, the CEO of Minex, Irena biggest shareholder said. Until now Minex managed Irena. Minex sold also a 5 percent stake of Irena to a porcelain plant owned by Marian Kwiecien, a private investor, who may increase his stake in the future.

Irena has problems. In 2004, it had PLN 3.8 m of net income against PLN 89.1 m of sales but in the fourth quarter it had PLN 700,000 of loss. The company explained the results by exchange rate fluctuations.

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Podpis: APA - Austria Presse Agentur

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