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