Locked content BGK buys 14% stake in Marguerite I from PKO BP

BGK, the state development bank, bought a stake in the pan-European fund Marguerite I from PKO BP on Friday. The fund (2020 European Fund for Energy, Climate Change and Infrastructure) has been financing major infrastructure projects. It’s the first financing model in the EU history for projec...

Locked content Ciech enters implementation stage of €100 mln investment in Germany

Ciech, the largest Polish producer of evaporated salt, has decided to enter executive phase of its 100 million euro investment in Germany. The company plans to build a production plant in Stassfurt, Germany. Ciech estimates to finish it in 2-3 years time. The anticipated production capacity of the p...

Locked content HubStyle sells Sales Intelligence for PLN 1.8 million

HubStyle signed an agreement with Sare for the sale of 100 percent in Sales Intelligence for PLN 1.8 million. The price can be increased by PLN 500,000, if additional conditions are met, the companies said. On April 13 HubStyle signed a document establishing preliminary terms of the transaction (a t...

Locked content PKN Orlen will import more oil from Saudi Arabia

PKN Orlen signed an annex to the agreement with Saudi Aramco for an increase of oil supply for at least 100,000 metric tonnes per month. As a result, more than 20 percent of raw material supplied to PKN Orlen refineries will come from Saudi Arabia. Under the new conditions, the contract with Saudi A...

Locked content Kopex 2017 net result turns to profit of PLN 67.5 mln

Kopex reported 2017 net profit from continuing operations of PLN 67.5 million compared to the loss of PLN 785.5 million a year ago. Consolidated revenue fell to PLN 749.4 million from PLN 777.2 million in 2016, the company reported. “The drop in revenues amounted to PLN 27,758 i.e . by 3.6 percent. ...

Locked content Groclin reports net loss of PLN 84 mln in 2017

Automobile seating manufacturer Groclin recorded a consolidated net loss of PLN 84 million in 2017, compared to PLN 0.45 million net profit in 2016. The operating net loss amounted to PLN 85.4 million versus PLN 7.6 million a year ago. Consolidated revenue grew to PLN 293.5 million from PLN 260.8 mi...

Locked content GPW hopes to resume cooperation with Tel Aviv Stock Exchange

The Warsaw Stock Exchange counts on resuming cooperation with the Tel Aviv Stock Exchange, WSE president Marek Dietl said on Friday. “I hope that after the ownership transformation we will return to operational cooperation, at the moment they are busy with other things. But I hope that we will coope...

Locked content PLN 3-6 bln T-bonds on offer in May – FinMin

The ministry of finance will offer PLN 3-6 billion worth of treasury bonds at a public tender scheduled for May 24, the ministry stated. By end-April, as much as 55 percent of the budget’s loan needs for the entire year have been financed, with PLN 60 billion on the budget’s balance sheet at the end...

Stable interest rates longer than expected – RPP ‘minutes’

During the April meeting of the Monetary Policy Council (RPP), the council agreed that interest rates should remain unchanged and that the likelihood that they will remain stable over the next quarters has increased, according to the “minutes” from the meeting published by the NBP. The majority of R...

Locked content Stalprodukt with PLN 254.45 mln in net profit

WSE-listed steel products manufacturer and distributor Stalprodukt posted PLN 254.45 million in consolidated net profit for 2017, down from PLN 325.78 million recorded in 2016, the company stated. Preliminary reports put the figure at PLN 253.31 million. Operational profit came in at PLN 359.61 mill...