Iberia Motor Company plans 2006 as a year of acquisitions

"We are preparing to enter the German market in 2006. We are interested in two key cities: Berlin and Dresden. We want to sell most of all Seat cars, but we might also distribute other brands," said Krystian Poloczek, head of IMC supervisory board. The company is already present in Ukraine where it is planning to sell 700 Seat cars in 2005. It is also intending to penetrate other Eastern markets. "We began distribution of Seat in Belarus. We already sell them in Lithuania and Latvia. We also commence talks with an investor in Russia," explained Poloczek. He went on to say that IMC will also look for new distribution channels in Poland. "This will be a year of acquisitions, as we look for opportunities to acquire distributor companies. We already conduct preliminary talks. Many Polish dealers have over-invested, while the bear market gives no chances for making up the losses," said Poloczek. (Puls Biznesu, p. 7) M.M.