Locked content Famur with better than expected profit

WSE-listed mining machinery producer Famur posted PLN 26.2 million in net profit for Q4 2016, up from PLN 6.4 million recorder in Q4 2015, the firm’s financial report showed. The analysts predicted a PLN 24.5 million profit. For the full year, the profits stood at PLN 93.8 million, representin...

Locked content Famur sells mining equipment for PLN 75 mln to Russia

Mining machinery producer Famur has signed a contract with Russian mine OOO “MMK – UGOL” for the delivery of a coal extraction mining machinery system worth €17.5 million (PLN 75.3 million), the company stated. The machinery will be delivered within 150 days of the advance payment ...

Locked content Kopex with net loss of PLN 547 mln in H1

Polish mining equipment producer Kopex posted a net loss of PLN 547.3 million in H1 2016 as the firm turned over PLN 330 million in non-cash impairments, the company said in a report. Last year, Kopex had a net profit of PLN 23 million. Consolidated revenues stood at PLN 446.3 million, which means a...

Locked content New agreement between Famur, Kopex and Tauron

Mining machinery producers Famur and Kopex in consortium filed best bid of PLN 72.4 million for providing a high-performance longwall system for power group Tauron, the companies announced in a market filing. The consortium expects to deliver the longwall system by the end of 2016, a statement said....

Locked content Kopex prolongs PLN 620 mln debt restructuring with 7 banks

Polish mining equipment producer Kopex has landed a deal with banks on setting the key conditions of the group’s restructuring issue, the company informed in a market filing. The agreement was signed between Kopex (including its units) and such banks as PKO BP, Pekao, ING Bank Śląski, BGŻ BNP ...

Locked content Kopex prolongs PLN 359 mln loan from PKO BP

Polish mining equipment producer Kopex has prolonged a PLN 359 million credit line from listed bank PKO BP to August 31, the company said in a market filing. The credit line is available to Kopex and several of its units. Apart from this, the annex follows a similar extension of a PLN 66.2 million c...

Locked content Kopex’s trade unions with a message to deputy PM Morawiecki

Listed mining machinery producer Kopex’s trade unions are seeking the government’s help in saving the firm from insolvency and mass layoffs, they wrote in a letter addressed to deputy PM and Development Minister Mateusz Morawiecki, the Polish Press Agency (PAP) informed. “KopexR...

Locked content Kopex’s Tagor to lay-off 43% of entire staff

Tagor, a unit of the mining machinery producer Kopex, plans to lay-off 120 workers (out of 282) due to its difficult situation, the company announced in a statement. According to officials’ estimates, Kopex will save some PLN 4 million annually on this cutback. The group redundancy of employee...

Locked content Kopex with €28 mln contracts in Russia

Mining machinery producer Kopex has signed three contracts for the delivery of machinery to Kuznetsk Basin in Russia. The total value of agreements stands at €28 million, the company announced. In line with the deals, Kopex will deliver two longwall shearers to the Bierezowska and the Jubilejna mine...