News Parkiet

Food industry

Wilbo to restructure operations

Canned fish and seafood producer Wilbo SA says it plans to spin off production and retail units into separate companies, selling off surplus real estate as part of a restructuring strategy. Wilbo, whose shares lost two-thirds of their value since in the IPO in late 1990's and have underperformed ever since, says it will transfer canned meat production to a new facility in north-eastern Poland. Money-losing Pesca Bar seafood-theme fast food chain will be folded into another company, possibly as joint project with an outside investor.

Automotive industry

JC Auto may raise targets

Car parts distributor JC Auto says it may raise its earnings target from the previously announced 14.6 million zloty. JC Auto, which went public in mid-2004, reported six-month earnings of 9.5 million zloty.

Building materials

Opoczno to pick three new directors

Ceramic tile maker Opoczno SA said it plans to add three new directors to its nine-member supervisory board at a meeting scheduled on September 15. It said company employees will pick four of Opoczno's twelve directors.

Retailing

Lubawa buys stake in toy store chain

Publicly traded military gear and bulletproof vest maker Lubawa SA said it has agreed to pay 2.5 million zloty, or 0.63 million dollars for a stake in Cartoon Planet, a toy store chain. It said it would buy 50 percent stake in Cartoon Planet, which owns licenses to sell Shrek toys and other Disney products.

Pharmaceuticals

OPG to delist Orfe

The Netherlands-based OPG Groep said it has purchased as many as 1.03 million shares of its Polish subsidiary Orfe, one of the country's biggest pharmaceutical wholesalers in a public tender that ended a few days ago. It now has a 92 percent voting stake in Orfe and says it plans to take the company private again.