Jurwald hopes to capture market share from Hortex

Investment fund Caresbac Polska (CP) is close to finally entering frozen food producer Grudziadz-based Jurwald and has already increased the company's share capital by zl. 3 million. The fund is planning to raise it again in February, as the producer is hoping to capture some of the 50% market share belonging to the biggest frozen food producer Hortex. "We hold 18% stake in the company and after the February share capital increase we will change the company statute so that we have more influence on Jurwald's management," said general director of Caresbac Polska Piotr Kalaman. The management told the media that the company is planning to enter Warsaw Stock Exchange in 2004. In 2003 Jurwald will focus on improving the quality of the food it uses and thus the value of its products. According to company representatives, Jurwald holds a 20% market share of frozen food sold through retail networks. (Puls Biznesu, pp. 1, 6) M.M.