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The Warsaw Voice » Business » December 12, 2017
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Forte with ambitious strategy
December 12, 2017   
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Furniture maker Forte will invest ca. PLN 700 million by end-2019 in launching a new chipboard factory (Q1 2018) and a fifth furniture factory (H2 2019), CEO and main shareholder Maciej Formanowicz tells daily Parkiet.
The company should improve its margins as of H2 2018 thanks to the investments but will take a hit to its Q4 2017 and Q1 2018 results due to rising prices of raw materials, he adds. Forte expects its Indian branch to generate a EUR 20 million turnover in this FY and break even in the next FY, with the investment to start making a noticeable contribution to the group's consolidated results after 2019.
The company stands by its target of EUR 400 million annual turnover in 2021, Formanowicz declares.
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