Newag to build Polish pendolino

KSZ
28-01-2008, 06:45

Warsaw (Puls Biznesu) – The company wants to build its trains, acquire rivals and be listed on the WSE. Sky is the limit, Zbigniew Jakubas, Newag’s owner says.

Zbigniew Jakubas bought Newag, an old railway company from Nowy Sącz, when it was on a verge of bankruptcy.

“I’ve always believed in the old economy’s companies. It’s not true that their time is over. People will never buy virtual clothes or travel by virtual trains” the investor says.

Now the time has come for the railway industry. Newag stands firmly on the ground and has very ambitious plans. In order to bring them into life there will be a need for some capital - from the WSE. And the latter is trying to recover after the recent shakings.

“It is risky to speak about the stock exchange plans at the moment. Nevertheless, if the acquisitions, that are now being negotiated, are carried out successfully, we’ll need money from the market” Zbigniew Jakubas says.

Double turnover

The investor does not reveal what the acquisitions are; however, he admits that there are two or perhaps even three UE companies from the industry. It is due to a recent growth of interest on the railway as such.

“If the negotiations are successful, which hopefully should not take longer than 12 months, Newag’s turnover will double and the group’s potential will be quite considerable” the investor says.

The company’s turnover has already been growing fast. In 2006 it was 166 m PLN, for 2007 it is expected to be 235 m PLN and plans for 2008 are to increase the sales to 335 m PLN.

The company has two big contracts from the end of 2007 for refurbishment and service of PKP Cargo and PKP Intercity machines. It also expects orders from GE Transportation as well as from the domestic cargo carriers.

Fast train

Newag focuses more and more on manufacturing. Although it deals mainly with servicing, the company wants to develop its own solutions.

“In spring we will test our prototype unit for city transportation” says Zbigniew Konieczko from Newag.

Another project is focused on the Polish version of pendolino or the French TGV able to speed up to 200 kmph. Both prototypes will be demonstrated to the public by the end of this year.

 

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Podpis: KSZ

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