Zlomreks forges ahead with major acquisition plans

The company plans dynamic development of the group, acquisitions worth zl.400 million and going public. Zlomreks will bid in a tender for Walcownia Rur Andrzej, if the latter is granted purchase preemptive rights for Andrzej Steelworks. Having recently bought Centrostal Górnoslaski, in a few months the company will also attempt to take over Centrostal Gdansk. Przemyslaw Sztuczkowski, the president of Zlomreks, declares the company is interested in acquiring at least a 66% stake in the latter, thanks to which Zlomreks would get its hands on a distribution network. Apart from broadening a selection of products offered as well as increasing turnover, Zlomreks will invest in development of the Centrostal services center. According to the president of Centrostal, Zbigniew Canowiecki, the merger and consolidation is the only solution for distributors after a long and severe winter. The acquisitions will be financed through a share issue, loans or bonds. Zlomreks plans its bourse debut in 2008. (Parkiet, p. 6) J.L.