Kopex restructuring program to bring PLN 80-110 mln savings

Kopex Group is finalizing works on a restructuring program which is expected to bring PLN 80 - 110 million savings a year, the company said. The restructuring efforts will lead to the cost optimization, focusing on core business, the consolidation of various areas of company's activities and increased effectiveness in managing human and capital resources. Under the program, the company will sell and liquidate some of its subsidiaries, restructure employment and sell some of its assets. Kopex is Poland's biggest mining machinery producer. The company recently said that it recorded lower revenues and worse financial results, stemming from the unfavorable situation on domestic and global coal markets.