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Pegas Reports Nine Month Results

November 29, 2007

Profits Down; Revenues Flat

Czech nonwovens producer Pegas Nonwovens posted a 15.4 % year-on-year fall in nine-month net profit to €12.485 million. Revenues for the first nine months of 2007 grew 0.1% €90.731 million euros in January-September.
   
Eastern Europe’s largest nonwovens produer, Pegas in August completed construction on its eighth spunmelt line, which brought its spunmelt capacity to 70,000 tons. According to executives, 85% of the capacity is already contracted for 2008, mainly to the European hygiene market.
   
In 2006 Pegas launched an initial public offering on the Prague Stock Exchange one year after it was purchased by private equity fund Pamplona Capital Partners. In July sold its 43% interest in the company, making 100% of the company available on the Prague and Warsaw stock exchange.



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