German white goods manufacturer BSH has opened its third plant in Poland in the Lodz Special Economic Zone. The company, which is a part of the Bosch und Siemens Hausgerate, has spent 60 million euros (approx. U.S. $73.7 million) on the investment.
"We are targeting a production quota of 1 million clothes dryers annually, and we are starting with 300,000 units this year. The plant will employ around 500 workers," said Konrad Pokutycki, member of board and financial director at BSH in Poland. "I expect that thanks to the new investment, sales revenues of the Polish company will grow this year by 20 to 30 percent."
The company has already two other plants in Lodz, on which it spent 90 million euros (approx. $110.6 million) in total. The company annually produces 800,000 washing machines and more than 500,000 dishwashers.
In 2004, the concern generated sales revenues exceeding 1.5 billion Poland zlotych (approx. $451.7 million) and a net profit 156 million Poland zlotych (approx. $47.1 million). According to BSH representatives, the company controls around 10 percent of the Polish white goods market. (Warsaw Business Journal)
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