Vertex, the producer of window shutters and garage doors from Czechowice-Dziedzice, whose planned IPO has recently ended with a fiasco, won’t be listed this year.
“The prospect is valid till March 21st 2009. If the market situation improves, we may be listed but it won’t be this year”, Janusz Gibas, Vertex CEO said.
The company had hoped to raise PLN 19m (EUR 5.6m) in the offer. The offer failed.
Today, Vertex focuses on organic growth. It bought a plant in Czechowice and increased capacity by 15 percent. It plans to increase exports from 20 percent to 40 percent of sales in 2011. The company has appeared in Romania, Latvia, Lithuania, Eastland and Ukraine. Its biggest export markets include the Czech Republic, Slovakia and Romania.
(PLN 1 = EUR 0.294)