Poland: Huta Batory steel plant sold to Roman Karkosik for PLN 100 m

APA - Austria Presse Agentur
opublikowano: 18-03-2005, 12:54

Warsaw (Puls Biznesu) – Roman Karkosik, the shareholder in listed Boryszew and Impexmetal companies, has won the tender for Huta Batory steel plant. The tender was initially intended to be ended on March 22nd, but bankruptcy officer decided otherwise. The businessman will have to pay over PLN 100 m (EUR 24.6 m) for the plant, whose assets are estimated at PLN 65 m.

Warsaw (Puls Biznesu) – Roman Karkosik, the shareholder in listed Boryszew and Impexmetal companies, has won the tender for Huta Batory steel plant. The tender was initially intended to be ended on March 22nd, but bankruptcy officer decided otherwise. The businessman will have to pay over PLN 100 m (EUR 24.6 m) for the plant, whose assets are estimated at PLN 65 m.

Zlomrex was another company interested in the acquisition. Yesterday morning, the company was planning an IPO. ‘Our price was not much lower. We lost because of one of planned acquisitions, but there are further tenders waiting. It is good that a Polish partner bought the steel plant. Zlomrex is its deliverer and we hope for further orders’, Przemyslaw Sztuczkowski, Zlomrex CEO commented. ‘This is not good news for Zlomrex’, Michal Buczynski, analyst of Millennium DM brokerage said, however. In the evening, Zlomrex said it gave up the IPO due to ‘worsening capital and forex markets’. Yesterday the company ended its book building. The company wanted to raise PLN 252-357 m for acquisitions.

Representatives of Roman Karkosik are very happy with the decision. ‘We count for wide synergies of up to PLN 5 m a year’, Slawomir Masiuk, the CEO of Impexmetal, which has been merged to Boryszew group recently. Huta Batory steel plant is steel pipes producer. Last year, it produced 50,000 tonnes of pipes and had PLN 4.1 m of net income against PLN 256 m of sales.

(PLN 1 = EUR 0.246)

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Podpis: APA - Austria Presse Agentur

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