Trion and Novy Fund fund have cancelled the planned transaction, in which the fund was supposed to become Trion’s biggest shareholder. In exchange, Trion was supposed to become the owner of two Czech producers of doors and windows.
“It’s best to wait until the situation on the capital market clarifies. We are sure that our present stock price does not reflect our value”, Marek Grzona, Trion CEO said.
He explains that his company has agreed to cooperate with Czech companies to lower costs.
“We may also use their distribution network and offer ours to them”, Marek Grzona said.
Meanwhile, Trion plans an acquisition and investments.
“We are in preliminary talks with a Western European transportation company with PLN 20m (EUR 5.7m) of annual sales present in the UK, Spain and France. It plans expansion in Central and Eastern Europe”, the CEO added.
The company plans also an investment in a painting plant worth PLN 8m. Construction works should end in the first quarter of 2009.
(PLN 1 = EUR 0.286)