Unimil move boosts German Condomi share value

Before the weekend the Kraków-based company spread the news that it was going to buy out the liabilities of Condomi, which has been on the verge of bankruptcy for sometime as well those of its subsidiary companies. Unimil said it would spend almost zł.70 million (EUR 16 million). What exactly has Unimil bought? Condomi is Europe's largest condom producer and owns a production plant in Erfurt that was modernized two years ago at a cost of more than EUR 10 million. It has a production capacity of more 700 million condoms a year and strong distribution and export networks. Much of its production is sold to Africa where it also cooperates with HIV-fighting organizations. Unimil itself sells 120 million condoms in this country a year.(Puls Biznesu, p. 12) D.W.