2 February 2005

Opoczno SA, Poland's largest producer of ceramic tiles, recorded excellent financial results last year. The company's supervisory board has approved a plan to float Opoczno SA shares to the public, followed by a debut on the Warsaw Stock Exchange.

The company's net profit grew by nearly 70 percent to zl.76.13 million, up from 2003's zl.45.9 million. Net sales revenue increased from zl.361.2 million in 2003 to zl.401.2 million in 2004. "The 2004 results are the best in the company's more than 120 years on the market," said Sławomir Frąckowiak, president of Opoczno SA. "Notably, in 2004 one in every four tiles sold in Poland was manufactured in our plant."

All but 1 percent of Opoczno shares are held by the Credit Suisse First Boston Ceramic Partners S.a.r.l. consortium, made up of investment funds from the Credit Suisse First Boston International Private Equity Partners L.P. group and funds managed by Enterprise Investors. The remaining 1 percent of the stock is owned by company employees. Opoczno products are available in almost 98 percent of building-material sales outlets in Poland.

send to a friend	print article