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• 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…
With reference to the newspaper article that appeared in Gazeta Wyborcza on 9 October 2012, on the application for bankruptcy of Polimex-Mostostal SA, the Company informs that:
Polimex-Mostostal Eurometal cooperated with Eurometal Company that performed piling for a railway viaduct built by Polimex-Mostostal on one of the rail routes in 2010,
Polimex-Mostostal withdrew from the cooperation with Eurometal, due to not meeting contractual obligations regarding the timing and quality of work by the company. Polimex-…
Polimex-Mostostal has binding offers for the purchase of two companies of the Group
· The selection of the offer will be subject to such criteria as the possible date of payment
· The offers are in line with expectations
Polimex-Mostostal SA is implementing the operational optimization strategy, which includes the sale of assets not belonging to the core business. Potential buyers have just completed a due diligence process of the two companies of Polimex Group.
We presented for sale the assets that are not…
On September 21, 2012, the Polimex-Mostostal SA signed a contract to build a power unit of gross electric power of 1075 MWe in Kozienice with a company of ENEA group. The contract will be carried out by the consortium of Hitachi Power Europe GmbH. The contract is worth 6.3 billion PLN, of which 42.7% are covered by Polimex-Mostostal.
The construction of the unit in Kozienice is a key contract to Polimex, but a very important one for the entire power engineering sector as well. This will be the most modern coal-…
· The Board of Polimex-Mostostal SA announces that on September 18, 2012, the Company signed a non-binding letter of intent with ARP, the subject of which is ARP participation in the capital increase of the company.
· The letter of intent for enables ARP to acquire newly issued shares of the Company entitling to exercising up to about 32.99% of the votes at the general meeting of the Company.
In August this year we announced that we were talking with potential investors and believed that to be one of the…
- creditors and shareholders initially approved the elements of the Group's financing strategy plan proposed by the Board
- as a consequence The Board of Polimex-Mostostal SA incorporates them into practice and convenes EGM with the agenda including:
capital increase in the amount of about 500 million PLN
consent for the disposal of organized parts of the Company, being part of the implemented plan of the disposal of assets not related to the core business
The Board of Polimex-Mostostal SA received preliminary…
On August 31, 2012, the Board of Polimex-Mostostal S.A. signed an agreement with Alstom Power under the contract for "Design and delivery of two machine sets with the supervision of erection and start-up" for PGE Elektrownia Opole (Opole Power Station) units 5+6. The remuneration for the execution of the project is 1.9 billion PLN net.
The agreement between the company Polimex - Mostostal and Alstom Power has been concluded in accordance with the principles contained in the contract with PGE Elektrownia Opole S.A…