Polish car parts maker Groclin has signed three long-term export contracts with France’s Faurecia to provide upholstery for a joint value of 1.1 billion zlotys ($US288.3 million), Reuters reported.
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The news agency added that Groclin, one of the best performing Warsaw-listed stocks last year, also confirmed in a statement that it had met its earlier 2003 forecasts to make a net profit of 34 million zlotys on sales worth 470 million zlotys.
The company reportedly said the export contracts were for the DaimlerChrysler Smart Roadster, Mitsubishi Colt and BMW Mini car models and would last 5-6 years.
Reuters noted that Groclin’s main products are car seats, children’s seats and seat covers with exports accounting for around 80% of sales.
