Polish Grupa Atlas gets approval for EUR112m project, Poland

Polish Grupa Atlas gets approval for EUR112m project, Poland
Published: 14 July 2004

Polish building materials manufacturer Grupa Atlas was granted a permission to construct a cement plant, a mine and a lime-processing plant on the territory of Lodz Special Economic Zone, Lodz province, central Poland, the company’s CEO Grzegorz Grzelak said.

The company will invest some 500 mln Polish zloty (US$138.4m) in the project, to be implemented in two stages. Under the first stage, the company will conduct research work of the limestone deposits near Opoczno, central Poland, and under the second stage it will construct a cement plant.

Grupa Atlas specialises in cement production and chemical construction products. The company’s offer includes mortars designed for fixing ceramic tiles and terracotta, insulation systems, paints, wallpaper adhesives, floors and self-levelling sub-floors.

The company increased its sales revenue by 11 per cent YoY in the first half of 2004. Sales in June 2004 dropped 16 per cent month-on-month, influenced negatively by a VAT  increase. VAT on various goods, notably construction materials, was raised, to conform to EU rules on the harmonisation of indirect taxes.