China Coal increases its stake in Bumech

China Coal Energy has increased its stake in the WSE-listed machinery producer Bumech to 9.77 percent from the previous 3.72 percent, company said in a market filing. China Coal plans to increase its ownership in the upcoming 12 months. China Coal is a Chinese coal producer, owned by the state. “Chinese saw, that despite small scale of our operations, we have a huge growth potential and are already fighting off much bigger competitors. We’ve talked about the possibility of our involvement in interesting, export-oriented projects,” company’s CEO Marcin Sutkowski told Puls Biznesu.