Alpinus seeks new investor as Renaissance Partners pull out

All-weather garment producer Alpinus is seeking investors, but is not holding talks with any other domestic competitors, including Campus, company spokesperson Rafał Czechowski said yesterday. Alpinus, currently in negotiations with its creditors, is to present its strategy for this year in early May. Last week, Renaissance Partners (RP) investment fund, the owner of 24% of Hortex, announced it was considering withdrawing its capital from the company, but did not expect any "reasonable return" on the transaction. According to Piotr Bardadin of RP the condition of the firm reflects the general economic slowdown. Alpinus's turnover in 2001 reached zł. 51.1 million but the company has not yet presented its figures for 2002. Some 6% of the company's products are sold abroad, mainly to the Czech Republic, Ukraine, Slovakia and Latvia. Alpinus controls around 35% of the zł. 250 million domestic outdoor clothing market. (www.onet.pl) J.K.