Image : Kompania Węglowa

KW agrees framework restructuring plan

Poland’s largest mining group Kompania Węglowa (KW), which is experiencing financial difficulties, said on Thursday that it has prepared the framework of its 2014-2020 restructuring plan. The main goals are to rebuild own capital by 2016 and to increase efficiency in 2017-2020.

Locked content Ukraine conflict potentially dangerous to Poland – Koziej

It cannot be ruled out that the military conflict in Ukraine could spill over to Poland, General Stanisław Koziej, head of the National Security Bureau told TVN24 Biznes i Świat. This is highly unlikely though, as it would be a war with NATO, he said. “It’s unimaginable in terms of a rational decisi...

Locked content Radpol eyes takeovers

Heat-shrinkable product maker Radpol will start looking for a takeover after the summer vacation, the company’s CEO Krzysztof Pióro was quoted as saying by the Polish Press Agency. The deal value may reach PLN 100-130 million. “We are interested in entities from Poland and other EU countries, but it...

Locked content Currency reserves at €77.3 billion

As of the end of July 2014, the National Bank of Poland’s official reserve assets stood at €77.3 billion compared to €74.7 billion at the end of June, the NBP said. When calculated in US dollars, the reserve assets were $103.5 billion compared to $101.9 billion at end-June. The NBP invests foreign c...

Locked content Admiral Boats prospectus approved

The Polish Financial Supervision Authority (KNF) has approved the issue prospectus of motorboat producer Admiral Boats, the watchdog said on Thursday. The company plans to move listing from the NewConnect market to the main market of the Warsaw Stock Exchange. Invista Dom Maklerski is the broker of ...

Locked content Parafianowicz leaves PGNiG board

Andrzej Parafianowicz has resigned from the post of deputy CEO at gas giant PGNiG, the company said in a statement on Thursday. He did not disclose reasons for the decision. The company’s supervisory board had suspended him as deputy CEO on June 18 this year, due to “the need to solve issues related...

Locked content Growth in car production recorded in July

Polish factories produced 56,512 passenger cars and vans in July 2014, according to data from sector research firm Samar quoted by the Polish Press Agency. The figure grew by 11.74 percent year-on-year and by 3.96 percent month-on-month. In January-July car production amounted to 372,556, 4.47 perce...

Locked content KUKE: Bankruptcies down by 14.9% in July

The number of bankruptcies announced in July 2014 declined by 14.9 percent year-on-year to 80, according to data from export credit insurer KUKE quoted by ISBnews. Between June 2013 and July 2014 the number of bankruptcies was 822. A year earlier the figure was 939. Construction remains most prone t...

Locked content PZU with green light to buy Link4

The Office of Competition and Consumer Protection (UOKiK) has approved the takeover of Link 4 by Poland’s largest insurer PZU, the watchdog said in a statement on Thursday. “PZU’s position will not strengthen significantly on any of the analyzed markets, mostly due to the low market share held by PZ...