News
On 22 February the Board of Polimex-Mostostal SA was informed that the tender submitted by a consortium of Torpol SA (a 100% subsidiary of Polimex-Mostostal) for the design, construction and implementation of the radio subsystem of ERTMS/GSM-R, the design and construction of route fiber optic cables and the construction of transmission systems implemented under the project OPI&E 7.1-25 "Construction of infrastructure for GSM-R under the NPW ERTMS railway line 20/CE 20, corridor F, the section Kunowice -…
Negotiations with the Creditors of Polimex Mostostal have been successfully completed – on December 21, 2012, an Agreement Relating to Granting Financing was signed (the so-called restructuring agreement)
This is a milestone in the conscientiously applied repair process saving the company from bankruptcy.
By the end of January 2013, the Company expects decapitalization by the Industrial Development Agency
Key provisions of the restructuring agreement include among others:
conducting capital increases adopted by…
Today the consortium consisting of Polimex-Mostostal and Torpol - wholly-owned by Polimex-Mostostal, signed the contract for the design and modernization of the railway line E75 Rail Baltica Warsaw – Białystok – Lithuanian border, stage I, Warsaw Rembertów − Zielonka – Tłuszcz (Sadowne) section".
The Employer is the PKP Polish Railway Lines SA
The contract is being implemented by consortium consisting of:
TORPOL S.A. (the Leader)
Polimex-Mostostal SA
INTERCOR Sp. z o.o. (Technical Services)
The value of the…
Today i.e. 11 December., the Board of Polimex-Mostostal was informed that the tender submitted by a consortium of Torpol SA (wholly-owned by Polimex-Mostostal) for the design and execution of works under the project "Quality improvement of the transportation services by improving the technical condition of the railway line no. 143 Kalety − Kluczbork section" was chosen as the most advantageous
The Employer is the PKP Polish Railway Lines SA
The tender was submitted by a consortium consisting of:
- TORPOL S.A. (the…
On 23 November the Board of Polimex-Mostostal agreed the content of the preliminary agreement on the essential terms of the Company's financing (term sheet) with financial creditors who signed a standstill agreement with the Company in July this year. This agreement is a binding agreement for the future specifying the conditions of financing for the Company's creditors.
Key terms of the future agreement referred to in the agreed term sheet assume:
increasing the share capital of the Company
operational…
In this way, more than 66% of the plan which involves the acquisition of min. 330 million PLN of sales has already been accomplished. Other assets held for sale, the value of which is estimated at about 110 million PLN, should find new owners in the next few months.
The last three months of intensive work resulted in the signing of several preliminary contracts for the sale of Polimex-Mostostal assets not belonging to the core business of the Company, including the sale of:
- Boilers Factory Sefako SA…
• Effective and timely implementation of the defined objectives for financial and operational restructuring:
- review of orders
- developing and implementation of funding strategy
- signing a letter of intent with the IDA on subscribing for new shares
- obtaining the EGM consent to increase the capital – debt convertion and recapitalising the Group
- obtaining a bank warranty and signing a contract for the construction of a power unit in Kozienice with the amount of 2.7 billion PLN
- signing conditional sales…
The value of the transaction will amount to PLN 46,7 million. The transaction will be finalized in the coming weeks, once the formal requirements are met.
ZREW unit, which is now part of Polimex-Mostostal SA is an entity with almost 50-years’ market experience in delivering services for companies from the energy sector as well as from other areas of economy, including industrial services involving machines and production lines, repair and modernization of machines and the implementation of investment projects. Its…
As part of the strategy related to the process of disinvestment, Polimex-Mostostal has signed conditional sale of assets agreements for the two companies of the Group previously selected as the assets not related to the core business, i.e.: Sefako and Energomontaż-Północ Gdynia and a conditional preliminary sales contract for the real estate in the port of Gdynia where Energomontaż-Północ Gdynia operates. For the sale contract of the companies the party is MARS Closed Investment Fund, based in Warsaw, managed and…
- The Agreement signed between the companies TORPOL SA and Astaldi concerns the joint execution of works in the field of tunneling with the use of TBM shield.
A newly established company will be a subcontractor of the consortium Torpol-Astaldi-PBDiM-Intercor of these works and it was created solely for this purpose - Robert Kosmal said, Member of the Supervisory Board of Torpol SA
- The conclusion of the agreement was subject to compulsory notification for approval by the Office of Competition and Consumer…