Bogdanka eyes production at 8.5 mln

WSE-listed coal miner, Bogdanka said that due to the coal industry's problems it will cut production by 7.5 percent to 8.5 million tons, below its productive capacity. The cut in the production is caused by "an increasingly difficult market situation tied to continued significant price pressure stemming from oversupply in the Polish market and aggressive pricing from the government-subsidized Kompania Weglowa," Bogdanka management said. The company decided to launch a restructuring plan that stipulates job cuts, outsourcing services cut and a hold on unit production costs.