Huta Krosno to invest over zł. 100 million over three years

The largest domestic stock-listed glass mill, Huta Krosno (HK), does not intend to acquire new plants, focussing instead on modernizing its existing ones and expanding its sales network. HK plans to invest over zł. 100 million in updating production lines at its Krosno, Tarnów and Jasło plants over the next three years. "Despite the scheduled investments, in 2003 the company expects to produce profits of zł. 8 million, similar to last year's," said HK president Jan Kurkus. The company had revenues of over zł. 316 million in 2002, with more than 70% of its production being exported. Krosno has already opened two foreign subsidiaries in Russia and the USA. At present the company has two distribution centers in Poland, but will expand this network by an additional four by the end of 2003. (Puls Biznesu, p. 10; Parkiet, p. 5) M.M.