Boryszew to invest up to PLN 180 mln

WSE-listed Boryszew is set to invest some PLN 150-180 million in tangible assets, Piotr Szeliga, CEO of the company, informed on Monday. He also said that the company spent around PLN 150 million on investments last year. "There are premises which show that we will increase spending this year. We certainly want to invest more in automotive. This year will see significantly increased productive capacity of the Chinese plant, where works related to new contracts with the BMW group will be undertaken," Szeliga said. Szeliga named the launch of a plant in Mexico as one of the investment targets in 2015, along with expansion of the NPA Skawina plant and investments in the copper sector. Boryszew doesn't plan to increase the level of its indebtedness. The company also announced that it recorded a consolidated net profit of PLN 109 million in 2014, compared with PLN 34.25 million a year earlier. Sales revenue stood at PLN 5.05 billion in 2014, while in 2013, it was PLN 4.83 billion. Boryszew is a chemicals and metal parts manufacturer.