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Iranian investor to buy into Poland’s glass sector


2012-05-15



An unnamed Iranian company is in late-stage talks to purchase Huta Szkla Irena (HSI), a major domestic maker of crystal- and sodium-glass products that was put into receivership in January, the company’s administrator told the media on 14 May. The potential buyer has already received clearance from the Ministry of Internal Affairs and its top executives are due to visit HSI’s facilities in Inowroclaw (Kujawsko-Pomorskie voivodship) later this month for final negotiations. (The Iranian firm has asked its identity to be kept confidential until the transaction is completed.)

The administrator said that none of the potential domestic suitors had been able to obtain sufficient bank guarantees to finance necessary investments.

HSI had sold 80% of its output to the Iranian market, with the remaining 20% going to Western Europe, before it went into receivership at the end of January, resulting in the loss of 150 jobs.



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