Polish aluminium producer Grupa Kety SA Thursday said that the company is currently negotiating the acquisition of two Germany-based companies, one engaged in the manufacture of extruded products and one operating in the aluminium systems segment.
In total, it intends to spend around ZL200m on the transaction.
The group will apply for a bank loan in order to obtain the necessary funds.
Kety is also planning to modernise its facility in Tychy.
According to its estimates, until the end of 2006 the average price of aluminium should remain at the level of $2,700 per tonne, while in 2007 it is to fall to $2,500 per tonne.
After three quarters of 2006, the groups consolidated net earnings amounted to ZL68.71m (ZL25.2 million in Q3 vs ZL27.8 million a year earlier) and were 6 percent lower than in respective period of 2005.
Meanwhile, its operating profit rose by 14.8 percent year-on-year, reaching ZL88.62m. Revenue increased by 45.5 percent and amounted to ZL790.89m.
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