Surplus real estate under hammer
Metals producer Silesia will be proposing at its board meeting on 12 September to dispose of its surplus real estate. The company is 75 percent owned by Impexmetal.
The company has been selling surplus land for several years but now it intends to offer four parcels in the centre of Katowice and raise around PLN2m in this way. Unfortunately in some cases the land is zoned for industrial use and therefore it is difficult to find buyers.
The company exports around two thirds of its production and has been badly hit by the strength of the Polish currency and at home must compete with imports.
The company has been trying to find an investor for some time. In 1999 a deal with Kraków based BI Code which would have been worth PLN42m fell through. The strategy of its main owner Impexmetal is to concentrate on aluminium and copper and therefore does not meet the overall plan for the group.