Plastics maker seeks new acquisitions
Monday, May 23, 2005, 00:00
Plastics manufacturer Pannonplast Rt will be focusing on expansion in the near future, CFO Dénes Gyimóthy told business daily Napi Gazdaság. With the process of restructuring now over, an acquisition is possible even before the end of the year, according to Gyimóthy. Since Pannonplast operates as an asset management company, the CFO did not exclude the possibility of an acquisition that is not directly related to plastics manufacturing. Plans are to finance the purchase from the company?s own funds and a bank loan, Gyimóthy said. This is a realistic goal, he added, since the sale of Pannonplast?s 50% stake in Pannonpipe may yield a revenue of several billion forints.