Impexmetal and Boryszew to have four units after the merger

APA - Austria Presse Agentur
20-09-2006, 12:31

Warsaw (Puls Biznesu) – The two companies owned by Roman Karkosik will end the merger within several months. The new industrial group will have four pillars.

Warsaw (Puls Biznesu) – The two companies owned by Roman Karkosik will end the merger within several months. The new industrial group will have four pillars.

Impexmetal and Boryszew are to build a group with over PLN 4.2 billion (EUR 1.1 billion) of capitalization.

“Mr. Karkosik is the second richest Pole. We will help him take the first place”, Adam Chelchowski, Impexmetal and Boryszew CEO said.

The strategy is simple: consolidation, investment and restructuring. The management plans PLN 290-310m of net income in 2007. In 2008, the income should jump to PLN 380-420m.

“We assume that Boryszew and Impexmetal will be functioning as one at the beginning of next year. It will be possible if we disinvest. Our aims do not provide for investment”, Boryszew and Impexmetal CEO added.

The industrial group will be divided into four divisions: aluminium, copper, polymer and the one producing zinc and lead wares. The rest, including Boryszew famous for its cooling liquid for cars, may be sold.

“There are two solutions: finding an investor or selling the companies on the stock exchange. We will keep majority stakes, however”, Adam Chelchowski said.

The plans provide for Aluminium Konin Impexmetal to have over PLN 90m of operating profit and over 8 percent of the net margin while Hutmen would have PLN 150m and over 5 percent respectively. Elana, the polymer producer, is expected to have PLN 1.2 billion of sales and over PLN 50m of operating profit. A foreign investor may be found for this division.

(PLN 1 = EUR 0.253)

 

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Podpis: APA - Austria Presse Agentur

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