JC Auto acquires Italian subsidiary; UK, Germany and Austria may be next

Apart from the Italian company, JC Auto owns four other foreign subsidiaries in Hungary, the Czech Republic, Croatia and Belgium. However, foreign subsidiaries generate less than 10% of the group's revenues. "According to cautious plans, within two years the proportion of domestic and foreign sales will be equal," said JC Auto deputy president Jerzy Józefiak. He added that the German, Austrian and British market are also attractive goals for expansion but so far no definite plans have been made in this regard. According to company management board forecasts, the consolidated net profit in 2005 amounted to zł.14 million, the operating profit totaled zł.19.1 million and the company's revenues were zł.202 million. (Parkiet, p. 6) E.B.