Texmaco eyes Poland

Tue, 24 Jun 1997 | Source: REUTERS

Texmaco eyes Poland

WARSAW (Reuter): Indonesia's Texmaco Group plans to invest in Polish textile firms grouped under National Investment Fund Fortuna SA, Texmaco president said yesterday.

"We are planning that after investing (in Fortuna), the turnover of our joint undertaking will be some US$200 million to $300 million," Marimutu Sinivasan, in Poland as part of an Indonesian trade mission, told a news conference.

He said Texmaco, an industrial trading group with textile, machinery and other interests, was eying investment in the Elana polyester firm located in the central Polish city of Torun and a deal should be hammered out within two weeks.

He did not disclose further details or the value of Texmaco's planned investment in Poland.

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