MSU puts heart and sole into expansion

The company is looking to drum up cash to fund an ambitious foreign expansion strategy that it says will propel it to Europe's fifth largest player in the industry in four years. The company, which earned a net profit of Zloty 4 million last year on sales of Zloty 60 million, is the market leader in Poland with a 10% share and exports accounting for 40% of its sales. MSU wants to use the proceeds from its IPO to acquire rivals in Russia, Italy and India and possibly also in Poland. For instance, the company is in talks to acquire a Russian company that produces three million soles per year, while in Italy it is eyeing a supplier to key brands such as Prada. "Foreign customers are turning away from Chinese footwear, so we see very good growth prospects also in Poland," says Piotr Sozstak, MSU CEO and one of its two shareholders. (Puls Biznesu S. 9)