Grupa Brasco to enter biofuel market

"We would like to debut either in Q3 or Q4 2007", said Wiesław Kaczmarek, Grupa Brasco's president. It is planned that within five years it will spend at least zł.500 million on producing biofuel components. Part of the funds for this purpose will be obtained via the floatation of shares. "We estimate our own investment at 20-30% of the total amount", said Kaczmarek. The company thus intends to collect zł.350-400 million from the floor. "We are planning to do two things at once: increase share capital and sell roughly a 50% stake in the company, whereas the investor would retain control over the company", explained Kaczmarek. To be able to carry out these plans Grupa Brasco accelerated its own consolidation; it is mainly comprised of Akwawit in Leszno and Kompania Spirytusowa Wratislavia, which are among the largest producers of pure spirits in Poland. (Parkiet, pp.1, 5) M.M.