Jakubas's rolling stock repair firm back on track

The firm had plans to carry out an IPO, but due to the difficult situation on the bourse this plan has been postponed. "Nevertheless, if we manage to carry out the planned acquisitions, we shall need funds from the floor," said Jakubas. He did not specify what companies Newag is eyeing, but mentioned these might be two to three EU firms. Negotiations should be concluded within 12 months and thus enable doubling the firm's revenues, which amounted to zł.235 million in 2007, while plans for 2008 envisage sales of zł.335 million. "We are not complaining about the lack of orders," said Jakubas. Newag is also concluding works on designing its new engines, which could be used on short routes and achieve a speed of 200km/h.