Carlsberg-Okocim expansion may cost more than planned

The creation of a new giant brewing group centered around Carlsberg-Okocim may cost more than previously anticipated. The company has signed a zl.340 million loan agreement with ABN Amro, with part of the funds to be used to finance the purchase of the Szczecin-based Bosman and Sierpc-based Kasztelan breweries, both owned by Bitburger of Germany. Carlsberg-Okocim president Marcin Pirog explained, "We have a credit line for zl.340 million, which does not mean all the money must be spent." However, Puls Biznesu speculates that most of the cash will be used to cover the long-term debts of the two breweries, at a time when Carlsberg-Okocim is still paying off the debts of another purchase, Piast. According to Pirog, Carlsberg-Okocim has no immediate plans for further expansion. "We are not looking for new acquisitions. Our market expansion will involve strong promotion of already existing products during the summer," he said. (Puls Biznesu, p. 8) M.T.K.