Car-seat cover producer, Groclin Auto, signs major deals

At the beginning of the second quarter, IGA will begin a six year long delivery to Smart Roadster, which is the company's new client. The estimated value of the contract comes to about zł. 460 million. At the beginning of 2005, Groclin will commence production of car-seat covers for Mitsubishi Colt. This deal is valued at zł. 360 million and the contract will last between five to six years. Starting 2006, IGA will begin a five to six year long delivery to BMW Mini, which will generate sales of zł. 280 million. The car-seat covers for these three contracts will be produced in a plant in Karpicko, which is also the headquarters of Groclin. At present, almost all of the output is exported and the company's EU market share is estimated at 12.5%. "The value of the new deals is substantial, especially in comparison to the firm's sales of zł. 470 million in 2003," commented Krzysztof Socha, analysts at DM BZ WBK. (Puls Biznesu, p. 10) M.M.