Kama Foods to increase capital following debt reduction

Domestic edible oils producer Kama Foods is looking for ways of getting out of its financial troubles. It took advantage of the government plan to restructuring company debts and now plans to increase its capital by zl. 56 million. Most of the new capital would be spent on acquiring raw materials so production can be restarted. "We are conducting a settlement procedure, which is coordinated by Dresdner Bank," said the president of Kama Foods Wieslaw Buchowiecki. Most of the new shares will be bought by Topaz Investment, which is tied to White Eagle Industries, owner of Kama. Buchowiecki assured that the company has the ability to increase its capital even further, but has no need to do this. However, prospective investors are hesitating whether to invest in Kama. "Indeed we are considering the possibilities and our options," said CA IB spokesman Arkadiusz Hajduk. (Puls Biznesu, pp. 1, 8) M.M.