Mostostal Warszawa bounces back thanks to real estate sale

The buyer was Spanish Nesco Entrecanales Cubiertas, which belongs to the capital group of Acciona that controls a 49.9% stake in Mostostal. The transaction was expected to substantially improve the financial results of the firm and the management board expected that, "The value of the transaction should exceed the value of capital investments and financial obligations related to the real-estate." The results from the deal are especially important for its shareholders, as in Q3 Mostostal posted a zł.18 million loss on 25% smaller sales in comparison to the same period of 2003. President of MW Santiago de la Fuente Ramirez announced in May that Mostostal will close the year in the black, which might now become possible thanks to the strong capital injection. (Parkiet, p. 1) M.M.