Koelner to detail Srubex plans this month

Further details will be revealed during a press conference scheduled for the end of the month, but two scenarios are feasible: the company will either sell its 20% stake in Srubex or take full control over it. The CEO refused to comment on which option he has in mind, but a few months ago he stressed that the main issue was whether the screw maker improves its financial situation, which it has not.Due to the strong zloty, high steel prices and growing competition, Srubex's net profit amounted to zl.1.1 million in 2005 instead of the zl.11.5-12.5 million promised prior to its IPO. In 2006, the company closed H1 with a net loss of over zl.2.2 million and the situation was not improved in Q3. The Koelner Group is a producer of fastenings for construction sites. (Puls Biznesu, p.12) M.M.