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Poland: Leading Food Firm Embarks On Expansion

London, 2 December 1996 (RFE/RL) -- One of Poland's leading food firms, Rolimpex S.A., is to embark on a modernization and expansion program following the signing of a $20 million financing deal with the European Bank for Reconstruction and Development (EBRD).

Rolimpex was formerly one of Poland's official foreign trade organizations, importing and exporting farm goods. It was partially privatized in 1994 and EBRD holds 10 percent of its share capital.

EBRD President Jacques de Larosiere says that the financing framework agreement will enable Rolimpex and EBRD to jointly finance a number of important agribusiness projects.

The company specializes in the production, processing and distribution of grain, rice, hops, potatoes and other products.

Last year it reported a trade turnover of $415 million and a pre-tax profit of $22 million.