Pulawy plan acquisitions

MG
opublikowano: 05-02-2008, 14:06

Warsaw (Puls Biznesu) – Pulawy, the nitrogen producer, wants to acquire rival Tarnow plants.

 

Pulawy raised its forecast for 2007/08 financial year ending on June 30th. Sales should amount to PLN 2.4bn (EUR 672m) while net income should grow to to PLN 224.1m. In 2009, Pulawy plans to increase investments, including acquisitions. This financial year, they may amount to PLN 138.4m. How big are they going to be next year will soon be decided.

“We may buy shares of Tarnow nitrogen producer because of synergies”, Lech Kliza from Pulawy management said.

 

Tarnow is supposed to be listed in June and issue new shares. Today, 80 percent of its shares belong to Nafta Polska, a state-owned company founded to privatize the chemical sector. Anwil, part of PKN Orlen group, is also interested in Tarnow plants. It plans to spend part of the funds raised on the stock exchange for this acquisition.

 

In the first two quarters of 2007/08 financial year, Pulawy had PLN 1.1bn of sales against PLN 998.6m a year earlier. The net income grew to PLN 133.5m, up from PLN 36.9m. Good results boosted Pulawy stock by nearly 5 percent to PLN 122.1 yesterday.

(PLN 1 = EUR 0.280)

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Podpis: MG

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