Toora gets in gear to raise capital and tool up

The company is to issue 7.28 million new shares, constituting a 35% stake in the enterprise. The remaining part of shares will remain in the hands of the company's owner - Italian Toora concern. "All the capital raised from the issue will be invested in Poland," said Renzo Poli, Toora Poland president, not revealing the exact sum, as the issue price of the shares has not been stated yet. Over the past few years the company invested zł.180 million in this country and it plans to invest zł.110 million between 2006-2007, mainly in expanding its production capacity. Toora Poland's 2004 net profit was zł.15.2 million. After three quarters of 2005 the concern's net profit was zł.12.9 million, but its representatives claim that reaching a net profit of around zł.20 million for the whole of 2005 is realistic. (Puls Biznesu, p. 9; Parkiet, p. 6) D.W.