PHF acquires Ciech Polfa to act as its export arm

This move is envisaged by representatives of the three companies who signed a letter of intent recently. PHF would purchase a 100% stake in Ciech Polfa and would take over its trademark, which the company uses in foreign markets. In this way Ciech Polfa would become "the export arm" of the holding, which sells across Central Europe, former USSR republics and Vietnam. Marcin Dobrzanski, president of Ciech Polfa, announced that his company would have much in common with the holding. "For sure it will be easier to develop as part of PHF, with which we have cooperated for a long time. We both need each other and our activities are complementary," said Dobrzanski. PHF president Jerzy Milewski, stressed there is no defined schedule of consolidation and the merger could take place at earliest in Q2 2007. (Puls Biznesu, pp. 1, 5) M.M.