City Service had tasked ZZN WAM, the Polish utilities company it privatized last year, to pursue active expansion, the Lithuanian property maintenance company said in its audited 2012 report.
“Ambitious expansion plans, which include active search for new customers, participation in many public procurement tenders held in Poland, creation of technical services and development of commercial building maintenance activities, have been drawn for ZZN WAM. In 2013, there may be more acquisitions of residential and commercial building maintenance companies in Poland,” the report reads.
ZZN WAM provides maintenance services to apartment buildings with a total area of more than 7.7 million square meters in Poland. The company holds 3.4 percent of Poland‘s apartment building maintenance market and provides services to nearly 4,000 homeowner associations.
“One of the main targets this year will be to start administering apartment buildings, most of which are now being maintained by local municipal companies,” the report reads.
According to the report, last year City Service started administering the buildings of Maxima grocery chain in Latvia as well as gas stations of Lukoil and certain public properties in the neighboring Baltic country.
This year, City Service will also seek to increase the number of apartment buildings it administers in St. Petersburg. In particular, it will seek to expand existing operations and to develop new activities, such as technical maintenance of metering devices for utilities resources, elevators and commercial buildings.
City Service controls the largest group of integrated utility service companies in Central and Eastern Europe. It has operations in Lithuania, Latvia, Russia and Poland. The area of buildings under its management totals 24.7 million square meters.
Icor held a 63.92-percent stake in City Service, which is quoted on the blue-chip Main List of the NASDAQ OMX Vilnius stock exchange, at the end of last year.
