Cersanit to invest millions in Romania

The company's production would rise by 17 percent as a result of the investment. The investment also aims to limit the effect of the strong złoty against the dollar. A fifth of Cersanit's production is sold in dollars.

"[Romania] is one of our home markets," supervisory board chair Artur Kłoczko said. "We can't yet give the exact sum [of the investment], but it will be hundreds of million of złoty," he added.

The company will build the new plant on land it recently bought in Bacau in eastern Romania at a price of EUR15 (zł.51) million. The land was purchased from floor-panel maker Barlinek, which is owned by Michał Sołowow, who also owns Cersanit and is one of Poland's richest businessmen. (Reuters)