Foreigners seeking to add Poland's No. 2 paints producer to their palette
Britian's ICI and Dutch Akzo Nobel, companies active in the paints sector,
are eyeing the country's second largest paints producer Sniezka. "We are in
talks with the potential investors, but would like to keep the majority
stake in the company," said Witold Wasko, a member of Sniezka's board of
directors. The company increased its sales considerably from last year and
has managed to survive mounting domestic competition, making it now the No.
2 domestic player in its industry after Wroc?aw-based Polifarb Cieszyn. The
company says the fall in 2000 sales came mainly as the result of
overproduction. Its stronger market position notwithstanding, Sniezka
predicts consolidation of Poland's crowded paints sector is on the horizon
and, in light of this, is seeking a strong strategic partner to team up
with. (Puls Biznesu, p.3)J.K.
