21.11.2014 "The Economist" praises Polish companies’ expansion abroad
In its latest issue, “The Economist” tells the story of Polish companies which have recently succeeded in expanding abroad, often on rich and competitive Western European markets. Not only do Polish firms export advanced goods there, but they also perform direct investments, through acquisitions or setting up new plants.
The article mentions Nowy Styl, a furniture manufacturer which has recently acquired two companies in Germany; Pesa, which will supply locomotives to Deutsche Bahn; Comarch, an IT integrator and software producer that has opened two data-processing facilities in Germany; KGHM, the world’s biggest copper manufacturer that bought a mine in Chile; and InPost, which develops a network of automated parcel lockers in nine countries, including Britain.
“The Economist” reminds that a decade ago, big Polish ventures abroad usually concerned state-owned enterprises and were politically motived, which led to spectacular failures (such as PKO BP, a bank which bought a subsidiary in Ukraine but later had to bail it out, or Orlen, an oil refinery that has gradually been withdrawing from its investment in Lithuania). On the other hand, the new wave of successful expansion concerns mostly private companies, driven by economic factors and based on their competitiveness. The article also notes that even the biggest Polish companies are small by global standards, but taking Poland’s impressive economic performance in recent years into consideration, this might change in the decade to come.
Source: “The Economist”
03.11.2014 Sotres at Global Connect in Stuttgart
Sotres will participate in the Global Connect fair for exports and internationalisation.The fair will take place in Stuttgart on November 4th-5th.
Sotres will be looking to establish partnerships with local companies, as well as trying to find businesses that are interested in entering the Polish and other Central European markets. Germany is already Poland's most important trade partner, which means that numerous Polish entrepreneurs have worked with German partners and even more are open for such cooperation.
11.08.2014 Polish exporters will overcome Russian food embargo
On August 7th Russia introduced an imports embargo on selected agrifood products, such as meat, fruit and vegetables. It is not the first such example but never has an embargo affected so many products for so long (it is supposed to last one year).
The embargo is painful in particular for Polish manufacturers of goods such as apples. Over half of 2013 apples exports went to Russia. However, Polish entrepreneurs are not just sitting still. They have already overcome the crisis years, when economic difficulties in the EU harmed the demand for Polish products. Polish manufacturers expanded then into different, extra-EU markets, creating a variety of new, sometimes exotic, destinations for Polish exports.
Local companies are doing the same now that the Russian market has been closed. Suggested directions are i.e. the Balkans, the Middle East and China. Many companies have already started internationalisation efforts, often with the help of consulting companies such as Sotres. Moreover, industry associations are active too: the fruit-growers association has already launched a EUR 5 million worth promotion campaign for apples in places such as China and the United Arab Emirates. The Russian embargo is more than just a new difficulty – it is also an opportunity for both Polish and European companies to enter new markets and diversify their sales geographically.
Sources: "Puls Biznesu", "Rzeczpospolita"
05.03.2014 Sotres at IMEX 2014 in Madrid
Sotres will participate in the Impulso Exterior (IMEX 2014), Spain’s most important internationalization trade fair. It will take place on April 23rd-24th, 2014 in Madrid. The rising interest of Polish firms to enter Spain – and vice versa – was our main motive to attend this event. Our goal will be to look for interesting companies to cooperate with and to present the possibilities for local businesses to expand in Poland and CEE.
04.03.2014 Ukraine crisis moderately influences Poland
European stock markets suffered losses due to Russian military intervention in Ukraine, including the Warsaw Stock Exchange, which lost 5% on Monday but revived the following day. Polish currency, the zloty, also suffered a decrease against the euro but it seems to have stabilized at the level of around PLN/EUR 4.18-4.19. It is unclear whether the tensions in Ukraine will have a strong effect on Polish economy but most experts remain positive about the economy’s capacity to resist external problems.