A company with GBP 100 of capital wants to buy Silesia coal mine

MG
opublikowano: 17-01-2008, 15:38

Warsaw (Puls Biznesu) – Gibson Group offers much over PLN 100m (EUR 27.8m) for the mine although its assets are worth only PLN 170,000. The Scotts promise at least PLN 250m of investments and don’t want to  say where they have money from.

Kompania Weglowa (KW) is about to announce who will buy Silesia mine located in Czechowice-Dziedzice. The bidding price amounts to PLN 111.5m. Only one offer has been submitted. Gibson Group International with headquarters in Glasgow, paid PLN 4m to take part in the tender. According to “PB” sources, it offered much more than required, which means that it is keen to buy the mine. No wonder. This is Poland’s second largest mine with 500m tons of coal.

Gibson Group promises USD 100-150m of investment in Silesia. The company, owned by Tom Gibson, a 64-year-old businessman from Glasgow has only GBP 100 of equity capital. According to a financial report as of November 2007, at the end of 2006, the company had GBP 65,800 of loss, assets worth only GBP 33,400, including GBP 27,400 of cash and GBP 154,600 of debts. However, money necessary to acquire the Polish mine are already waiting on a bank account.

“The money come from the company. Besides, no company talks about the source of its capital”, Zbigniew Wasilkowski, Gibson Group representative said when asked about the funds.

It’s hard to find information about the company.

“It deals in the energy and heating sectors, it is well-known in Russia and China”, Dariusz Dudek, the head of Solidarnosc trade union in Silesia mine said.

The company does not have a website. It is not known in Western Europe. Zbigniew Wasilkowski said in April 2007 that it had been founded by Tom Gibson in 1978.

A reliable source believes that Russians may hide behind the Gibson Group.

“The Russians are keen on acquiring raw materials in Poland but they do it in a very delicate way”, the source says.

According to documents “PB” has got access to, the Gibson Group was previously known as The UK Russian Company. Gibson Group’s representative denies it.

“This is purely British capital”, Zbigniew Wasilkowski said.

KW is not interested who is going to buy the mine.

“We only check financials, and not who is buying and to whom he belongs”, Zbigniew Madej, KW spokesman said.

(PLN 1 = EUR 0.278)

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Podpis: MG

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