Pekaes hopes acquisitions will help stimulate its growth

The company has already conducted an initial evaluation of three firms it is going to take over. "We have completed due diligence in one of these companies and in mid May we are going to present a final acquisition offer," said Wacław Wo jciechowski, member of Pekaes's management board. The first take over concerns a company specializing in container transport. Apart from that, Peakes is interested in two courier firms. The company's management board has estimated that it would pay about zł.40 million for the three entities. During its last share issue, Warsaw-based Pekaes raised zł.160 million, which means that it will still have a lot of cash at its disposal after the transactions. "At the moment we are buying Polish firms, but we are also thinking about foreign acquisitions," revealed a management board member. In 2004 the revenues of the Pekaes Group grew by less than 2% to zł.519 m illion. (Puls Biznesu, p. 10)