Sanwil sees road to success in furniture development rather than shoes

It has one clear objective - to take over another producer in the furniture sector. "We have started negotiations, as we see this acquisition as an important boost factor to our turnover" said the president of Sanwil, Jacek Rudnicki. Approximately 40% of the company's income comes from furniture, while a further 40% is generated from the shoe sector, and the rest from special production. Due to the flooding of the Polish market by Chinese shoe products, the only line of development for Sanwil is furniture components production. "If we do not manage to close the negotiation stage before issue, we will allocate funds in safe finacial instruments and later come back to the acquisition talks," said Rudnicki. The subscription process should start between October 10 and 12. The first tranche will be directed to the institutional investors and will comprise 55 million shares, whereas the open tranche will amount to 20 million shares. (Puls Biznesu, p.9) J.J.