POLAND - Polish meat industry processor and distributor Polska Meat S.A. has debuted on the NewConnect market of the Warsaw Stock Exchange (WSE). The funds obtained from the stock market are to allow the company to expand its presence in Africa, where it established itself as a major meat exporter.
“We mostly export poultry, turkey, pork and beef meat. Polska Meat exports an average of 35,000 tonnes of processed meat products per year, and it currently is a leader in the field of processed poultry meat exports with an average of 25,000 tonnes per year,”Sebastien Guyon, the company’s chief executive, told local news site Portalspozywczy.pl.
Guyon said that most of Polska Meat’s export sales are intended for various African markets. According to the chief executive, the firm aims to significantly expand its presence in Africa which it considers as a strategic market with a rapidly increasing demand for meat. By 2050, the continent’s population is expected to increase to as much as 2.4 billion, a robust expansion compared with the current 1.2 billion.
“The aim of our stock market debut is to finance our growth there,”Guyon said, adding that one of the company’s main customers in Benin has also become its shareholder.
Set up in 2011, the Polish firm is based in Gdynia, on the Polish Baltic Sea shore, and it was set up as a local subsidiary of its main shareholder, Spain’s Iberdigest S.L. The Spanish firm currently holds a stake of about 64% in the company.
In 2015, Polska Meat reported revenues of more than PLN 212 million (€49.4 million), up 4.4% from PLN 203 million (€47.3 million) posted a year earlier. The firm has a workforce of about 20, according to data from Polska Meat.
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