ZZM to announce tender offer for Kopex machine producer

APA - Austria Presse Agentur
opublikowano: 05-01-2006, 17:19

Warsaw (Puls Biznesu) – Kopex, Poland’s listed producer of machines and equipment used in the mining industry, is soon going to be privatized. At the end of last year, Zabrzanskie Zaklady Mechaniczne (ZZM), a producer of, among others, combines, received permission to acquire Kopex. ZZM is going to announce tender offer within two weeks.

Warsaw (Puls Biznesu) – Kopex, Poland’s listed producer of machines and equipment used in the mining industry, is soon going to be privatized. At the end of last year, Zabrzanskie Zaklady Mechaniczne (ZZM), a producer of, among others, combines, received permission to acquire Kopex. ZZM is going to announce tender offer within two weeks.

According to the privatization agreement, ZZM is to acquire a stake owned by Krajowa Spolka Cukrowa (KSC), Rafal Rost, Kopex CEO said.

The latter company received 64.64 percent in Kopex from the state nearly two years ago.

Analysts believe that the tender offer will be very attractive to Kopex shareholders, including KSC. Shares are traded PLN 60 (EUR 15.8) while two years ago they cost PLN 47. It will also be positive for Kopex.

The company will have strategic investor, Rafal Rost said.

According to the privatization agreement, ZZM will invest PLN 40m in Kopex group comprising of several facilities. Preliminary data show that in 2005, Kopex had PLN 12m of net income against PLN 422m of sales. The Kopex group had PLN 20m of net income and PLN 600m of sales.

(PLN 1 = EUR 0.263)

 

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Podpis: APA - Austria Presse Agentur

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