Krosglass, the fiberglass manufacturing subsidiary of Krosnienskie Huty Szkla has called off its stock debut for the third time. Subscription of shares for individual and institutional investors was scheduled to start on 10 June 2008. However, the firm's general shareholder meeting decided on 6 June 2008 not to proceed. The Polish glassworks is confident that its subsidiary has a bright future, as it is the only domestic producer of glass wool and derivatives. It has the potential to compete against the west on price and against China on quality. However, the enterprise needs investment, which was supposed to be financed from the stock market flotation. The two most pressing needs are to double production capacity and upgrade the production lines. According to the head of Krosglass', the firm is not giving up on these plans, merely postponing them.
