Record share price as cylinder producer Milmet looks to eastern markets

Milmet, the country's largest manufacturer of gas cylinders and cylinder valves, reached its highest share standing since April 1998 last week. It's shares had been appreciating in price for a few days and reached a record level of zł.16.3 at the close of the bourse on Friday when their standing rose by 6.9%. Asked to explain this favorable situation company’s president Jerzy Kościelniak said: "Right now 10 to 15% of our stock is available on the bourse. The rest is owned by people rather unwilling to sell it." Currently the company's focus is mainly on export and its management is taking a closer look at eastern markets. "We have acquired certificates essential to conducting business in our neighboring countries. Our sales in Russia and in Ukraine reached EUR 160,000 last month," said Kościelniak. Although Milmet's sales remained constant throughout the year, its Q2 net result was 50% lower than in Q1, mainly because the company was paid over zł.1 million for their subsidiary KZWM in the beginning of the year. Milmet limited their 2004 net profit projections to zł.5 million. (Parkiet, p. 2) D.W.