Boryszew to rebuild factory in Germany

WSE-listed Boryszew has signed  a loan contract with state-controlled BGK to finance a reconstruction of a production plant of plating elements for the automotive industry, in Prenzlau, Germany, a company press release read. Boryszew is going to carry out a 15,000 sqm production hall equipped with a modern technological line. The value of the project totals €21 million. The investment will also be co-financed by Brandenburg Land and the German unit of PKO BP. The factory was demolished due to fire. The new facility is to be launched by the end of 2016. Boryszew is one the biggest industrial groups in Poland, it specializes in the production of automotive components. The company recorded revenues of PLN 5 bln in 2014 and its net profits stood at PLN 155 mln.