Paper producer Świecie plans investment rather than acquisitions

The management of paper and packaging materials producer Frantschach Świecie have said they are not planning any takeovers in the sector in 2003, though the company does want to spend zł. 101.5 million on investments. According to specialists Świecie, which has grown to be one of the biggest players on the domestic market, can only expand through further acquisitions as it is now using almost 100% of its production capacity. However there seems little left for Świecie to conquer as most paper producers in Poland are controlled by foreign entities. "On the other hand, foreign purchases would be time-consuming and risky", explained Waldemar Bojara from DM BOŚ brokerage house. Instead of takeovers the company would like to focus on "maximizing net prices" by boosting production and sales. (Parkiet, p. 5) J.K.