Energomontaż-Północ chases after new contracts not acquisitions

The company plans to significantly boost its profits and net profitability from executed contracts to the level of 10%. The firm also announced good Q2 financial results. "We are focusing on production and assembly-construction contracts and have deals with the energy and oil sectors. We will also be active in the industrial chemicals sector. The minimum profitability of the contracts will stand at 5%-10%," said Włodzimierz Dyrka, president of Energomontaż-Północ. The firm has decided to halt its planned acquisitions until at least next year, and currently it is focused on clearing its outstanding liabilities from the period when it was close to bankruptcy. The company will also end its developer activities and currently it needs to dispose of assets worth zł.20 million. (Parkiet, p. 4) M.M.