Locked content Bumech creditors in favor of arrangement proposal

On Thursday Bumech creditors voted in favor of approving arrangement proposal, the company said. The court hearing regarding accepting arrangement proposal is scheduled for July 31. In April Bumech proposed to divide creditors into three groups. The company offered to pay the full amount in 96 insta...

Locked content Bumech files to launch restructuring proceedings

WSE-listed mining equipment producer Bumech filed a petition to the court to open the company’s restructuring proceedings in the form of accelerated arrangement proceedings. According to the company, such move was aimed at avoiding bankruptcy. Bumech informed that the direct factors that had influen...

Locked content Bumech and Famur sign cooperation agreement

WSE-listed mining equipment producers Famur and Bumech signed a letter of intent on cooperation assuming, among others, financial support from Famur for Bumech. According to the statement, Famur is actively supporting Bumech in the process of acquiring contracts for mining services on foreign market...

Locked content Bumech trade to resume trading on WSE next week

WSE-listed mining machinery repair firm Bumech will have its trading on the Warsaw Stock Exchange resumed on April 18, WSE said in a statement. The trading was suspended back in March, after financial market regulator KNF started an inquiry into alleged transaction in which China Coal Energy Company...

Locked content KNF notifies the prosecution regarding Bumech deal

Financial market regulator KNF has notified the prosecution of suspicion of committing a crime regarding the alleged purchase of Bumech stock by the China Coal Energy Company, KNF said in a statement. KNF launched its investigation after Bumech announced that the Chinese company increased its stake ...

Locked content KNF with serious doubts regarding Bumech stock transaction

Poland’s Financial Supervisory Authority (KNF) said that it did not receive any information from China Coal Energy regarding its recent takeover of Bumech shares, and gathered information does not support the case that such deal occurred. Last week, coal mining machinery producer Bumech announ...

Locked content WSE suspends Bumech trading for one month

The Warsaw Stock Exchange, acting on the motion from the Poland’s Financial Market Supervisor (KNF) suspended the trading of Bumech for a period of one month, until April 24. KNF asked for the suspension due to irregularities in recent stock acquisition transactions. If all concerns are allevi...

Locked content China Coal increases its stake in Bumech

China Coal Energy has increased its stake in the WSE-listed machinery producer Bumech to 9.77 percent from the previous 3.72 percent, company said in a market filing. China Coal plans to increase its ownership in the upcoming 12 months. China Coal is a Chinese coal producer, owned by the state. “Chi...

Locked content Bumech will mine bauxite in Montenegro during 29 years

A consortium led by  WSE-listed Bumech and Grottech has inked a deal with Uniprom Metali for bauxite mining in Nikšić, Montenegro. The value of the contract amounts to €250 million (approximately PLN 1.1 billion). The agreement was agreed for a period of 29 years and  can not be terminated until Bum...

Locked content Bumech signs PLN 26.3 mln deal with Bogdanka

A consortium led by Kobud, a subsidiary of WSE-listed Bumech, has inked a deal with LW Bogdanka for underground mining. The value of the contract will not exceed PLN 26.26 million, Bumech said. The start of the works is scheduled for January 1, 2016. Bumech has acted for years in a machinery industr...