Kreisel building concern looks to stock exchange for firmer foundations

Kreisel Technika Budowlana, a mid-sized manufacturer of gypsum and related building materials, is planning to enter the Warsaw Stock Exchange. Kreisel's chief finance officer Mateusz Siekierczak said the Poznań-based unit of Germany's Kreisel GmbH needs roughly zł. 50 million for expansion in Poland and the former Soviet Union. The funds would also allow the concern to merge with smaller competitors. Kreisel is now building a new manufacturing plant in Moscow and another one in the Ukraine to increase its output. It generates about zł. 200 million in annual sales, with net margins at about 4%. (Parkiet, 4) J.J.