The growth will be financed as in the past, from loans and own funds, as the firm is not planning to carry out a public offer. In 2007 Cersanit spent about zł.630 million on acquisitions and investments, of which zł.267 million was spent on purchasing a 48% stake in tiles maker Opoczno and zł.163 million on purchasing five companies in Russia. The main directions of foreign expansion of the company will be Ukraine, Russia and the Balkans. Currently Cersanit is concluding the first stage of constructing a plant of tiles and sanitary ceramics in Ukraine at a cost of zł.290 million with the launch of production scheduled for H2. (Parkiet, pp. 1, 6) M.M.
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