Sinara buys WRJ pipe producer for EUR 37.5m

APA - Austria Presse Agentur
opublikowano: 20-10-2005, 16:50

Poland: Warsaw (Puls Biznesu) - Sinara Handels, member of TMK Russian pipe producer group, is going to buy assets of Walcownia Rur Jednosc for EUR 37.5m. The assets will be acquired from bankruptcy officer because WRJ is to file bankruptcy. Pipe production will be launched at the breakthrough of 2006 and 2007. 500 people will be employed there.

Poland: Warsaw (Puls Biznesu) - Sinara Handels, member of TMK Russian pipe producer group, is going to buy assets of Walcownia Rur Jednosc for EUR 37.5m. The assets will be acquired from bankruptcy officer because WRJ is to file bankruptcy. Pipe production will be launched at the breakthrough of 2006 and 2007. 500 people will be employed there.

We estimate it will take us 18-24 months to launch production, Wasilj Makarow, Sinara Trading CEO said.

The agreement will be ratified within 4-6 weeks. WRJ has been being built for 27 years now. The government and creditors have already spent PLN 600m (EUR 153.6m) for this failed project.

(PLN 1 = EUR 0.256)

Poland/Enterprises/Metals and Mining

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Podpis: APA - Austria Presse Agentur

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