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Press statement

In connection with the reports concerning the apprehension and questioning of Jerzy Krzanowski, the co-owner of Nowy Styl Group, the company has decided to present the following statement.

According to the information possessed by the company, the charges Jerzy Krzanowski has been presented with are related to his alleged influence on employees of state institutions in exchange for exemption from the bank guarantee for the investment concerning the construction of the furniture factory in Jasło (Poland) which the company realised.

The exemption from the bank guarantee was in accordance with the regulations of law and fully justified in the co-financing agreement since the company had met all the requirements necessary to obtain the subsidy, i.e. the company had accounted for the investment stage, which was checked and confirmed by an inspection body.

Jerzy Krzanowski gave an explanation and answered all the questions asked by the prosecutor. At the same time, he expressed his willingness to cooperate with judicial authorities within the pending proceedings. According to the defence counsels, all the carried out operations have not disclosed any evidence indicating that Jerzy Krzanowski undertook actions that could justify the charges he has been presented with.

After questioning, Jerzy Krzanowski was released and sent back home.

We are convinced that Jerzy Krzanowski is innocent and will be soon cleared of the charge.

We would like to highlight that the ensuing situation does not have any influence on the Nowy Styl Group's operational functioning. The activities our company undertakes are always based on the rules of transparency and lawfulness. We fulfil all orders on time and in accordance with the highest standards which are the indicators of the quality of the products manufactured by our brands.

The construction of the modern production plant at Nowy Styl Sp. z o.o in Jasło was carried out within the Innovative Economy Operational Programme 2007–2013. Since the beginning of its functioning, the factory has sold goods for more than PLN 90 million. 65% of the products have been sent to export markets. The factory employs over 170 people.

The total Nowy Styl Group's sales amount to more than € 300 million, 80% of which are sent to export markets. Nowy Styl Group employs approximately 6,000 people.

Management Board of Nowy Styl sp. z o. o.