The well-known juice producer Hortex has obtained credit totalling ZL85 million. The creditors are BPH PBK, Fortis Bank and factoring company, Forin. The move finalises the company's restructuring process, started in 2001.
Hortex, which produces mainly juices and frozen fruit and vegetables, has achieved a 10 per cent increase in its sales revenues, to almost ZL360 million. It has also achieved undisclosed net profit.
The money will be used to finance current operations, including the purchase of fruit and vegetables. Commercial credits received from banks not tied to the company confirm that Hortex has regained creditworthiness.
The management forecasts the growth of sales should reach 20 to 25 per cent this year. During the current financial year, the company designated ZL20 million for investment purposes, 150 per cent more than in the previous year.
Source: Polish News Bulletin
