WRJ pipe plant announced bankrupt

opublikowano: 25-01-2008, 10:07

Warsaw (Puls Biznesu) – After 28 years of  construction works, Walcownia Rur Jednosc, a pipe plant which has not started production yet, was announced bankrupt.

WRJ has already cost the state PLN 0.5bn. On January 23rd, the court at Katowice announced its bankruptcy.

“This is a liquidation proceeding. I’m checking the financial situation of the company. We may talk about what I plan in detail in a month’s time”, Jan Czyszczon, WRJ bankruptcy officer said.

Yesterday, the plant’s assets, including machines, equipment and documents were secured. According to “PB” sources, the bankruptcy officer will within several months put WRJ up for sale to pay back the creditors. WRJ has PLN 0.5bn (EUR 138m) of debts.

Liquidation proceeding means that a new investor may buy the plant without debts. Two years ago, Russian TMK offered EUR 37.5m for the plant. Another potential investor was Roman Karkosik, well-known stock investor and stakeholder of WRA, another pipe producer. He was unavailable for comment yesterday.

(PLN 1 = EUR 0.276)

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