The German firm ended up within the fingers of the Poles. The brand new proprietor will reveal his plans

The Polish a part of the German large will now function as a totally separate firm. Its new homeowners – Bogdan Kaczmarek and the funding fund Innova Capital Group – announce a number of modifications aimed toward rising manufacturing effectivity and decreasing its detrimental impression on the atmosphere. The corporate will change its title quickly, however the brand new managers haven’t but revealed what it is going to appear like. They be certain that there shall be no restructuring or discount of workers. Alternatively, earnings can enhance as deliberate investments are carried out.

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Beata Michalik, Enterprise Insider: Why did you resolve to take over the Polish a part of Pfleiderer from the Germans?

Bogdan Kaczmarek: Till now, I’ve been working as a furnishings maker. Pfleiderer is an organization that provides furnishings producers, so you might say I went again a bit on this collection. There isn’t any higher uncooked materials for making stable furnishings than chipboard, which is why I believe it’s a good selection.

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What made me make investments was the Innova Capital fund. It occurs that we all know one another from different companies and this time they provided me a joint funding. At first, I used to be very shocked by this proposal, however after sleeping by means of it for a few nights, I believed: “why not?”. We started to investigate the professionals and cons for a very long time and the choice was made.

“No cooperation” with the furnishings manufacturing facility

Will this choice have an effect on the operation of your factories COM40, producer of upholstered furnishings?

It’s price noting that that is solely a monetary funding and has nothing to do with the manufacturing of upholstered furnishings. There isn’t any synergy, particularly for the reason that quantity of board that COM40 consumes is about 1.5%. Pfleiderer manufacturing capability, so there isn’t any dependency right here.

What’s the present monetary scenario of Pfleiderer Polska?

The corporate’s place is sweet, with excellent prospects. Importantly, we entered this funding at market trough. Investing is sweet presently, though it takes braveness. As Warren Buffet says, it’s essential to all the time purchase low. In truth, we did it a bit accidentally, as a result of the shopping for course of took nearly three years. Within the first stage, one other purchaser was chosen, however based on official info, the transaction didn’t occur. Then we entered. We had a good time.

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What would be the impact of the corporate separating from the German father or mother firm?

I believe solely constructive. Germany Pfleiderer, as a result of it’s a larger firm, in a approach dominated the Polish a part of the corporate. As well as, after all, the Polish firm had been separating itself from the Germans for a very long time. On account of plans to promote the Polish a part of Pfleiderer, an unbiased workforce from Germany was established in 2018. The companies labored individually, there was solely particular cooperation in buying or utilizing the German half merchandise on the Polish market, however this was a small proportion of the corporate’s exercise, so the separation didn’t trigger any monetary loss. Alternatively – we will profit from it, eg by creating product traces that solely the German aspect has to this point provided.

In Poland in the present day now we have a number of highly effective producers of wood-based panels. What’s Pfleiderer’s present place concerning the competitors?

We’re the second largest producer of chipboard and laminated board after Kronospan. Kronospan works slightly in a different way, eg it produces many issues that we do not, they’ve their very own glues and papers. However we are going to battle for the market and broaden our viewers.

These tenants embrace: furnishings makers. How would you assess the present scenario on this business?

For now, the market is sluggish, however I hope it is going to begin quickly. The extent of world consumption has fallen and everybody has worse gross sales, not solely us Polish producers. I do know that the export of furnishings has decreased and, in consequence, the demand for tables can also be restricted. The German market is weakening and the British market is weakening after Brexit, all of us really feel it, which can also be associated to the event business. The dearth of buying energy is clear, and that’s due, amongst others, to excessive rates of interest and costly loans. We estimate that for each sq. meter of a brand new home, one meter of tile is required. All of us count on rates of interest to fall, so let’s hope condominium gross sales begin shifting ahead quickly.

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The plan is unfold over 5 years

Let’s return to Pfleiderer. Along with Innova Capital, you announce the investments and growth of the manufacturing facility. What precisely are the plans?

We now have an entire listing of deliberate investments that can go in a number of instructions. The primary is a number of smaller tasks that goal to cut back the prices of manufacturing the album. The subsequent is investments aimed toward decreasing emissions and decreasing the environmental impression of crops. The final route, though no much less necessary, is the event of manufacturing capability.