P&G Could Clean Up In Eastern Europe
Procter & Gamble is making a plunge into Eastern Europe. On June 19, P&G became the first U. S. company to buy a 100% interest in a Czech company, Rakona, the country's largest detergent maker. P&G will pay $20 million up front and at least another $24 million to upgrade and expand. It has also formed two joint ventures in Hungary to produce paper and personal care products. In another deal, it will sell diapers, shampoos, and detergent in Poland. The push comes none too soon: German detergent maker Henkel has been picking off key Czech and east German properties.
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