Zelmer, a Poland-based producer of white goods, wants to enter the stock exchange before the end of 2004, citing that it wants to raise PLN120 million (approx. U.S. $30.5 million) to develop its own retail network.
"We operate on a very competitive market. Expansion is not possible without large funds," said Zelmer's president Andrzej Libold.
Mr. Libold says he is counting on the new Treasury Minister Jacek Socha to support his company's speedy privatization plans. Despite the recent surge in steel prices, and the likely increase in prices of plastics, Mr. Libold says he vows to attain the company's stated financial targets for 2004. (Puls Biznesu)
to Daily News