Budimex's restructuring draws to a close, four more subsidiaries to go

Construction company Grupa Budimex, which is one the largest on the domestic market and is controlled by Spanish Acciona, will decrease the number of its subsidiaries by four. "Selling or closing down some of our non-core businesses is the last stage of our restructuring process. The most important one, the merger of five companies and creating Budimex Dromex, was concluded last year," said Budimex's spokesman Krzysztof Kozioł. For now, it is still unknown when the disposal of the companies will take place, but the firm assured that the most important criterion would be the offered price. The total book value of Budimex's subsidiaries put on sale amounts to zł. 5 million. After concluding the transactions, Budimex will no longer operate in the energy sector, which is not a strategic area for the company. "This step is justified, as Budimex cannot specialize in every branch. They are strong in road and cubature construction," stated Zbigniew Bętlewski, an analyst with AmerBrokers. (Puls Biznesu, p. 9) M.M.