Kolastyna plans new cosmetics factory following IPO

 "The debut might take place later this year, or at latest by the end of Q2 2007," said Andrzej Grzegorzewski, president of Kolastyna and company's co-owner. The group did not reveal information on how many shares would be issued, but the current owners plan to retain majority stakes. The company is hoping to raise zl.31 million from the floor which would be designated for organic growth, investments in new brands, taking over other brands, as well as constructing a new plant near Kraków, the construction of which should commence in 2007. "For the time being, investment is still in the planning phase, but we estimate that moving production to Niepolomice would take place in 2008," said Grzegorzewski. The firm currently produces 30 million packages annually, but the figure should double after 2008. (Puls Biznesu, pp. 1, 7) M.M.