Boryszew and Impexmetal to merge next year

APA - Austria Presse Agentur
opublikowano: 07-10-2005, 18:31

Poland: Warsaw (Puls Biznesu) - Boryszew, the Polish chemical producer, and Impexmetal, a metal trader, both controlled by businessman Roman Karkosik, are going to merge to build an industrial group of 17 firms with PLN 4 billion (EUR 1 billion) of annual sales.

Poland: Warsaw (Puls Biznesu) - Boryszew, the Polish chemical producer, and Impexmetal, a metal trader, both controlled by businessman Roman Karkosik, are going to merge to build an industrial group of 17 firms with PLN 4 billion (EUR 1 billion) of annual sales. Within a month, managements of both listed companies will reveal details of this operation, today they refuse to tell the parity. The merger should end in the middle of next year.

 

We want to build a strong holding focused on organic growth and acquisitions. We hope to increase profitabiliy, Krzysztof Sedzikowski, Boryszew CEO said.

The merger should let both companies to get financial investors who today are not eager to spend their funds for those firms.

Because of its potential, the new group will be more attractive, Boryszew CEO added.

But the merger is not enough to attract investors.

They need to improve their results, especially Boryszew, which has not been doing wonderfully recently, Miroslaw Saj, BISE analyst stressed.

(PLN 1 = EUR 0.254)

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Podpis: APA - Austria Presse Agentur

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