News
On August 10, 2012 the Supervisory Board of Polimex-Mostostal SA, appointed Mr. Robert Oppenheim, Vice-President of the Management Board, to the function of the President a.i.. At the same time the Management Board dismissed Mr. Konrad Jaskóła, former President of the Board.
- Polimex Mostostal is going through a difficult period of restructuring. I believe that my experience of healing enterprises will be useful for the company. Polimex is a company with great potential, reputation and professional, dedicated…
On 24 July 2012 the Company entered an agreement to refrain from enforcing obligations with the banks financing the activities of the Company and the holders of the bonds issued by the Company.
The agreement was concluded for a period of four months. During that time an agreement amending the terms of debt financing for the Company will be worked out.
The agreement could be terminated ahead of schedule in the event of not meeting one of several conditions till 30 July 2012:
· bondholders, holding a total of…
On Friday, 27 July, The National Board of Appeal dismissed the CNEEC-COVEC’s appeal against the selection of the tender of the Polimex-Mostostal consortium as the most advantageous one for the construction of coal unit for supercritical parametres up to 1000 MW in ENEA Wytwarzanie S.A.
The tender was submitted by a consortium consisting of:
Hitachi Power Europe GmbH - the leader,
Polimex-Mostostal SA– the partner.
Net value of the offer is 5,105,386,417.00 PLN,
Gross value of the offer is 6,279,625,292.91 PLN. …
Polimex-Mostostal implements a wide range of actions aimed at increasing the efficiency of operation, improving financial liquidity, reducing debt, and ultimately increasing performance.
- A framework of Polimex-Mostostal financing has been developed. On its basis discussions were conducted with all the financial creditors of the Company, particularly with banks and bondholders. As a result of these discussions, temporary suspension of the enforcement of the Company's financial liabilities repayment has been…
On 12 July 2012, Polimex-Mostostal signed a contract for the design, supply, and construction of the installation for catalytic denitrification and dedusting of flue gas from boilers on a turnkey basis in the heat and power plant in the PKN ORLEN plant for Polski Koncern Naftowy ORLEN S.A.
The net value of the contract is 379.032.024,66 PLN.
The new installation will reduce nitrogen oxide emission and dust emission in the heat and power plant of the PKN ORLEN plant in Płock. It will serve seven existing boilers…
Polimex-Mostostal is completing a large-scale action plan whose goal is to increase the efficiency of operation, improve the financial liquidity, reduce the debt, and, finally, increase the results.
- A preliminary financing program for Polimex-Mostostal was created. On the basis of the program, talks with all the financial creditors of the Company, including the banks and bond holders, have been started with the aim to negotiate new, prolonged deadlines for bond redemption and loan repayment - informs Konrad…
The construction industry, recently engaged in infrastructure projects which belong to public procurements financed by the state budget and EU funds, nowadays undergoes financial difficulties. The main reasons behind this situation are:
- the exclusion from the contracts the option to adjust contractual prices to follow changes in prices of e.g. construction materials, fuel and power supply.
- long payment due dates for works performed.
- lowest bid price as the only criterion for selecting the contractor,
- …
The consortium consisting of:
- ZRUG Sp. z o.o. (The Leader),
- Polimex-Mostostal SA (the Partner)
on 19 June 2012 concluded a contract with Gas Transmission Operator GAZ-SYSTEM S.A. to build the DN700 gas pipeline Szczecin - Lwówek, Phase I pipeline DN700 Szczecin - Gorzow Wielkopolski, Phase II pipeline DN700 Gorzów Wielkopolski - Lwówek.
The value of the contract: PLN 268 705 800 gross (net PLN: 218 460 000),
Polimex-Mostostal participation amounting to 17,85% i.e. PLN 47 970 000 gross (net PLN: 39 000 000…
The Board of Polimex-Mostostal S.A. was notified that the bid for the construction of coal-fired power unit for supercritical parameters of net electric power of min. 900 MWe, max. 1000 Mwe in Kozienice Power Station Public Limited Company, was chosen by the Employer as the most advantageous.
The Employer is Kozienice Power Station Public Limited Company
The tender was submitted by a consortium consisting of:
Hitachi Power Europe GmbH - the leader,
Polimex-Mostostal – the partner.
The value of the net offer is 5,…
The Board of Polimex-Mostostal SA was notified that the bid for the design and modernization of E75 railway line Rail Baltica Warsaw - Bialystok - the border with Lithuania, stage I, Warsaw Rembertów - Zielonka - Tłuszcz (Sadowne) section has been selected by the Employer 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 Leader, wholly-owned by Polimex-Mostostal),
Polimex-Mostostal,
INTERCOR Sp. z o.o. (Technical…