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Variant car accessories producer expands in Slovakia

APA - Austria Presse Agentur
opublikowano: 07-09-2005, 19:30

Warsaw (Puls Biznesu) – Variant, the listed car accessories producer from Krakow, southern Poland, is launching its first foreign subsidiary – in Slovakia.

Warsaw (Puls Biznesu) – Variant, the listed car accessories producer from Krakow, southern Poland, is launching its first foreign subsidiary – in Slovakia.

This is just the beginning of the project. “We want to be more active in foreign markets”, Wieslaw Cholewa, Variant deputy CEO and one of its biggest shareholders commented. He expects that in 2006, the Slovakian unit will generate PLN 1.5-2.5m (EUR 382,500-637,500) of sales. He added, however, that distributors for Variant products are being looked for in Eastern and Southern Europe. “Ukraine is our next target. Our subsidiary could be launched there at the beginning of next year”, the deputy CEO said.

Today, Variant offers its products via external companies. Thanks to the changes, exports are to grow to 40 percent in 2007 from 30 percent today and amount to PLN 30-40m. During its recent IPO, Variant said its net income would grow 32 percent to PLN 4.9m, sales by 12.5 percent to PLN 52m. In the first half of the year, the net income exceeded PLN 3.1m. “In October, decision concerning our forecasts will be made. It is very probable that they will be revised up”, Wieslaw Cholewa assured.(PLN 1 = EUR 0.255)Poland/Enterprises/Automotive

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Podpis: APA - Austria Presse Agentur

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