Sinara and Alchemia fight to buy WRJ pipe producer

APA - Austria Presse Agentur
21-06-2006, 15:12

Warsaw (Puls Biznesu) – Russian Sinara and listed Alchemia fight to seize control over the steel producer. The next clash is due on June 23.

Warsaw (Puls Biznesu) – Russian Sinara and listed Alchemia fight to seize control over the steel producer. The next clash is due on June 23.

 

There are two big players interested in acquiring Walcownia Rur Jednosc (WRJ), the pipe producer constructed for 25 years and not at work as yet. Russian Sinara, a subsidiary of the international distributor TMK, world’s second largest pipe producer is the one player. The second one is Alchemia, a listed company controlled by Roman Karkosik, the owner of, among others, Huta Batory. On June 23, the clash will be continued during the GSM.

“I confirm that we have announced another GSM”, Marian Uherek, TFS CEO said.

TFS has 40.7 percent in WRJ and 55 percent in WRJ Serwis. The latter owns the land where the plant is located. Unless it is fully controlled, the sale of WRJ may not happen.

 

Both Sinara and Alchemia are determined to acquire WRJ. According to analysts, the Russian investors wants to enter Poland in order to have an open way to EU markets. Roman Karkosik who bought 10 percent in WRJ for PLN 2m and plans to buy another stake may lose what he invested if WRJ acquires Sinara.

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Podpis: APA - Austria Presse Agentur

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