HSG Irena SA, one of two listed Polish glassworks, is looking to launch a new investment programme. “At the moment we are conducting a very thorough analysis. We are considering enlarging production c…
HSG Irena SA, one of two listed Polish glassworks, is looking to launch a new investment programme. “At the moment we are conducting a very thorough analysis. We are considering enlarging production capacity, redesigning part of the building and takeovers. This way we aim to raise the value of the company,” said Irena legal adviser, Artur Lewicki, adding that it was still too early to say what funds will be allocated for the investment plans or how these will be used. “It is still too early for such details”, he said. After two quarters the glassworks posted PLN 3.34 million in net value, up PLN 1 million on the whole of 2003. “We should be able to maintain this growth pattern until the end of the year. There“ll be no fireworks, but rather a stabilisation at the level of the two 1Qs,” added Lewicki. The company does not rule out finding money on the capital market. Recently, however, investors have been selling the company“s shares. Poland“s Kredyt Bank SA sold 295,377 shares in Irena on 31 August 2004.