Pannonplast to set up Serbian plastic packaging unit
The company also said it plans to take part in building bioethanol plants worth a total of Ft 200 million by 2008 after it started in June to build up a new division to manage projects using alternative energy sources. Gyimóthy said Aug. 1 Pannonplast plans to invest Ft 10 billion buying stakes in companies from various industries in the next three years, which it would keep for three to five years. The shares have jumped 81% this year, fueled by the company's strategy of selling unprofitable units. They rallied 8.2% to a five-year high of Ft 3,500 in Budapest , giving the company a market value of Ft 14.7 billion. (Bloomberg)
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