Condom producer Unimil goes for growth

Unimil will start enjoying profits from the acquisition during Q3 2005. "For now we have bought a German company that will be gradually expanding its sales. Its effects will begin to be felt in Q2," said Grzegorz Winogradski, Unimil president. Unimil issued new shares several months ago in order to be able to finance the acquisition of heavily indebted Condomi that was on the verge of bankruptcy and thus it became the owner of its main shareholder company. Unimil took over Condomi's debt of EUR 37 million. Now Unimil wants to remit 757,000 of its shares which make up 28% of its capital, thus rising the value of the rest of its shares. "Later we plan to increase sales in Western Europe and America and Condomi will supply us with condoms," said Winogradski. The company hopes to increase sales by several hundred percent. (Puls Biznesu, p. 10) D.W.