Bauma to finance expansion through bond issue

Bauma, a construction equipment manufacturer, intends to issue three-year bonds worth zl. 10 million, scheduled for the turn of April and May. Out of the money raised, 70% is to be spent on the company's expansion on the markets of Southern Europe. Bauma's current sales constitute only a quarter of its income, the other three quarters comes from renting its construction equipment. "The poor state of the national market forces us to look to foreign ones. We need funds to open new branches," explained Bauma President Andrzej Kozlowski. The company has already recorded some success in Ukraine, the Baltic republics and in Russia. "Now we wish to invest in the Czech Republic, Slovakia and in the Balkans. These are very promising regions," said Kozlowski. Some of the money from the issue will be spent on mode rnization and widening the range of the company's products. (Puls Biznesu, p. 7) K.Z.