Warsaw (Puls Biznesu)- Zetkama, Poland’s listed producer of industrial fittings and pressure casts, wants to acquire two companies. It has given up acquiring a foreign rival.
Zetkama, one of the biggest producers of industrial fittings used in the processes of liquid and gas flows regulation, wants to consolidate its sector. However, the recent months have proved it is difficult.
“Our projects are suspended but they may be concluded still”, Leszek Jurasz, the company’s CEO said.
In fall, Zetkama said it was interested in three companies: two Polish ones and one foreign firm. Several weeks ago, the listed fittings producer said it gave up the foreign acquisition. There are still two Polish firms left.
“Nothing has changed in their cases since January. We are meeting once a month and talking”, Leszek Jurasz admitted.
Both companies are worth several-some dozen million zloty.
“We are ready to conclude the transactions but we are waiting for the other party to make decision”, the CEO added.
Meanwhile, Zetkama is developing capacity and is going to be a plant worth PLN 30m, which should be launched till year-end. The CEO assured that this year’s forecast of PLN 6.6m (EUR 1.7m) of net income (plus 11 percent in comparison to 2005) and PLN 84m of sales (plus 7.7 percent) will be met.
(PLN 1 = EUR 0.254)