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Blowex-Tarnow sell-off bargaining rights to Krosno

Krosno, Poland“s biggest glassworks, has received exclusive bargaining rights in the state sell-off of the Blowex-Tarnow glassworks, a Krosno press statement said. The subject of the planned acquisit…

Krosno, Poland“s biggest glassworks, has received exclusive bargaining rights in the state sell-off of the Blowex-Tarnow glassworks, a Krosno press statement said. The subject of the planned acquisition is located in the town of Tarnow, not far from the town of Krosno, where the Krosno glassworks is based. Blowex“s sales revenues are at some PLN 50 million per year, while Krosno presented a medium-term strategy for the glassworks in September of last year. It assumes, among others, boosting the company“s market share and exports. Krosno has also decided to cease exporting through intermediaries and instead, to build its own export structures. Krosno, controlled by a private individual who won a competition for control with Enterprise Investors Funds last year, reported sales revenues of PLN 266 million and a net profit of PLN 11 million for 2000. The company assumes further increase of net margins, which are to be doubled by 2005.

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