ICI Paints Pilawa plans to bid for 40% of own shares

The management of ICI Paints Pilawa, one of the top five paint producers in Poland, has announced that the company intends to bid for the 40% of its shares that are being put up for sale by the Treasury and the National Investment Fund (NFI). President of ICI Paints Pilawa, Miroslaw Stachowicz, said, "The price offered by the seller will decide." Despite the industry's poor performance in the first six months of the year and the fierce market competition that has forced down prices, ICI Paints Pilawa has managed to increase its sales by 5%. The company plans to concentrate on the production of decorative paints, and has been identified by parent company ICI as a possible center of its white emulsion paint production. (Puls Binzesu, p. 6) P.W.