Polimex-Mostostal has signed a new contract for the construction and assembly works in the Głogów Copper Smelter

Today, i.e. on 23 May 2013 Polimex-Mostostal has signed a new contract for construction and installation works related to the project: Pyrometallurgy modernization – Flash furnace at the Głogów Copper Smelter.

The Employer is KGHM Polish Copper S.A.

The contract is executed by the consortium composed of:

Polimex-Mostostal – the leader    

Tulcon S.A.  – the partner

The minimum value of the works covered by the contract is PLN 75 million net.

Polimex-Mostostal’s participation in the consortium is 55%.

The contract is for the execution of construction and assembly works in the Głogów Copper Smelter related to the construction of production facilities in the area of ​​ charge preparation, blast furnaces, process gases dedusting and ventilation systems, branch electrical distribution facilities with equipment, and power and transportation facilities (including roads, squares, railway infrastructure and transport technology).

The deadline is in the years 2013-2015.

The backlog of Polimex-Mostostal is PLN 7.4 billion, including: signed contracts - PLN 7.2 billion, contracts in the final stage of negotiations - over PLN 0.1 billion. The current backlog for each year is as follows: 2013: PLN 2.2 billion - all for the concluded contracts; 2014: PLN 2.7 billion (signed contracts - PLN 2.6 billion, contracts in the final stage of negotiations - over PLN 0.1 billion); 2015: 1.7 billion - all for the concluded contracts, the following years PLN 0.7 billion – all for the concluded contracts.

With the benefit arising from the private placement of new shares and the resulting reduction in costs so far, as well as the sale of assets not related to the core business, Polimex-Mostostal is gradually recovering its operational capability. The Group focuses on profitable business projects in construction industry.