Pekaes hopes restructuring plan brings profits by Q4

"Restructuring costs estimated at zl.12-13 million should bring returns within two to three quarters," said Pawel Borys, head of Pekaes' supervisory board. He went on to say that the company should post an operating profit by Q4 2006, especially since it has a working capital of zl.140 million. The restructuring program should help transform the company from a transport entity into a logistics services operator, in particular in the segment of small packages. "With this regard one cannot exclude acquisitions, but these will not take place soon," said Maciej Bielicki, president of Pekaes. The company announced continuous replacement of its trucks and expansion of its warehouse space from 35,500 sqm to 150,000 sqm. Pekaes will also develop some of its plots in Warsaw. (Puls Biznesu, p. 9) M.M.