Metsa Tissue takes over ZE Krapkowice before embarking on expansion plan

Metsa Tissue Oyj, a Finnish producer of paper hygienic materials, is currently merging its companies Konstancin Jeziorna-based Metsa Tissue with ZE Krapkowice. The Finnish firm bought out Krapkowice's minority shareholders in June 2003. According to the announcements of Metsa Tissue company president, Lech Buzalski, the number of employees in both plants will drop by 300. He has however, sustained 2003 revenue forecasts of zł. 180 million. At the consolidated level of the whole group, the firm should record sales of around zł. 220-230 million. However, its net result will most likely be negative with the operating loss amounting to a few million złoty. Lech Buzalski revealed that next year, the Polish company will become the main development center for the Finnish concern in this part of Europe. Due to this Metsa Tissue will begin to conquer the other markets in the region. (Parkiet, p. 5) M.M.