Aluminum on the WSE

Toora, an Italian auto parts manufacturer, wants to invest over zł.100 million in Poland by the end of 2007.

"The funds will be chiefly devoted to the development of production in our facility in Nisk," declared Toora Poland president Renzo Poli. The company also plans to expand its product portfolio into vans and trucks. It is also considering the creation of a research and training center in Poland.

Toora's combined investment in Poland in the previous three years exceeded zł.180 million. The company's announcement of the planned financial engagement came after it submitted its issue prospectus to the Securities and Stock Exchange Commission in mid-September.

Toora Poland plans to increase its capital by around 35 percent, which would mean issuing six million new shares and selling them on the Warsaw Stock Exchange (WSE). "We are counting on the debut to take place this year," said Giovanni Natali, a member of Toora's supervisory board.

Last year's consolidated revenues of the company amounted to zł.143.9 million and net income reached zł.15.2 million. (Poland A.M)