Ciech's latest acquisitions fuel its ambitious plans

"Taking into account the acquisition of Zachem and Sarzyna, the group's revenue will increase to zł.3.5 billion and by 2008, after smaller takeovers, should reach zł.4 billion" announced Ciech's president Ludwik Klinkosz. The group's sales in 2005 grew to zł.2.2 billion, while its net profit amounted to zł.103.6 million. Klinkosz expects that thanks to modernization and investments the revenues of Sarzyna and Zachem may rise from zł.399 million to zł.700 million and from zł.800 million to zł.1.1 billion respectively during the next five years. According to the agreement with Nafta Polska, Ciech is supposed to invest zł.306 million in Zachem and Sarzyna by 2011. Ciech wants to finance part of this expense with the help of a loan. The offers of different banks are now being analyzed. (Parkiet, p. 6) M.K.