Bankrupt building paper manufacturer Polinova fails to attract investor interest

There has been no investor interest in the purchase of the bankrupt Oświęcim-based Polinova, the oldest domestic traditional building paper manufacturer. "Not a single offer was made for the company's property. This has been the second unsuccessful tender. Now the court will have to lower the initial price," announced Marek Rymaszewski, Polinova's receiver. Originally, the company's assets were estimated to be worth zł. 1.7 million, and in the second tender they could have been acquired for zł. 1.15 million. Unofficially, it is said that Icopal, the largest domestic building paper manufacturer, expressed an interest in purchasing Polinova. It, however, did not file its offer. "We do not need to enlarge our production capacity; besides, Polinova has been using outdated and redundant manufacturing technology. Currently, we are interested solely in recovering our debt," stressed Icopal's vice-president, Zbigniew Czarnecki. This debt has led to Polinova's bankruptcy and there is mounting speculation that Icopal, which wanted to eliminate the competitor, had engineered the bankruptcy on purpose. (Puls Biznesu, p. 7) K.Ż.