A clear view of the bourse

Huta Szkła Wołomin (Wołomin Glassworks) has begun preparations aiming at taking the company to the bourse. The firm announced it has started working on its prospectus, which should be sent to the Polish Financial Supervision Authority (KNF) in August. "The public offer should take place in October," said Wojciech Kaszycki, the president of Management & Consulting Group, the company preparing the glassworks' IPO.

Wołomin Glassworks wants to obtain zł.50 million from the IPO. It plans to spend the money on investments, which would help broaden the company's product portfolio and in marketing its products. "We also want to improve the ratio of our capital to debts, which would help us get turnover capital for increasing production and sales," Wołomin Glassworks' president Janusz Michna said.

The firm is currently investing in two new production lines, which will enable the firm to produce high-margin products from thin glass and pressed glass.

"Thanks to [these new production lines], our revenue from sales could rise six-fold," Michna said. He explained that one of the lines will be ready this year and the other in 2008, allowing the glassworks to reach its targeted production capacity in that year.

The firm is also planning to enter new segments of the market. "We are currently negotiating with a large car producer," Michna disclosed, adding that the automotive and lighting sectors are the company's main new markets. He also expressed the hope that the IPO will help the company in its foreign expansion. The firm currently exports its products to 40 countries, which accounts for around 30 percent of the firm's revenue.

In 2006 Wołomin Glassworks posted a revenue from sales of zł.31 million and a net profit of zł.2.5 million.