APS Energia launches assembly plant in Russia and delays IPO

Poland's power applications manufacturer, APS Energia is opening its assembly plant in Russia next month, the firm's CEO Piotr Szewczyk said in his interview for Parkiet.com. Additionally, the IPO which was previously planned to be launched in the first quarter of 2015 was delayed by the board of managers to June. APS Energia decided to build its assembly plant encouraged by record sales value noted in Russia last year. The company is also going to establish trading companies in Turkey and in the US, where "growth prospects are promising," Szewczyk informed. The IPO was delayed due to the "unsatisfying performance of the firm's shares on the NewConnect stock exchange", the company informed. The NewConnect-listed APS Energia is a manufacturer of power applications used in, among others, production, heating, industry, telecommunications and medicine.