Stolbud has new investor, plans investment and development

APA - Austria Presse Agentur
26-10-2006, 10:49

Warsaw (Puls Biznesu) – The company’s financial troubles are about to end. Stolbud thinks about an IPO. Boguslaw Wypychewicz, ZPUE owner, will inject fresh capital into Stolbud.

Warsaw (Puls Biznesu) – The company’s financial troubles are about to end. Stolbud thinks about an IPO. Boguslaw Wypychewicz, ZPUE owner, will inject fresh capital into Stolbud.

Stolbud, the window and door producer, will have its capital increased by PLN 12m (EUR 3.1m) to PLN 19m, the shareholders decided last Saturday.

“A strategic investor, i.e. Boguslaw Wypychewicz, the owner of listed ZPUE has appeared on the horizon. He has about 64 percent of shares and 52 percent of votes today”, Marek Szczesny, Stolbud CEO said.

Boguslaw Wypychewicz is 98th on the list of 100 richest Poles with assets of PLN 175m.

Stolbud thinks about the stock exchange but not earlier than within three-four years. The company will also invest in technology.

“In 2007, we will spend PLN 8-10m for investment. After this year’s capital increase, we will use our capacity fully”, Marek Szczesny said.

He also plans to increase exports.

“Within two years, we want to export 20-30 percent of sales. We are present in the Czech Republic, Slovakia, Ukraine and Italy. We eye Greece, Eastern European markets, Scandinavia and maybe Bulgaria”, the CEO enumerated.

Stolbud, which has 7-8 percent market share, employs 780 people in its Wloszczowo plant. The employment is going to grow.

(PLN 1 = EUR 0.257)

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Podpis: APA - Austria Presse Agentur

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