Mostostal Warszawa to focus on road sector following restructuring

Listed leading construction company, Mostostal Warszawa plans to complete the first stage of its consolidation plan next year, whereby it will take over four subsidiaries and turn them into local representative offices. "We are withdrawing from the idea of a holding," said company president Santiago de la Fuente, who mentioned Mostostal Kielce, Mostostal Puławy, Wrobis and Mieleckie Przedsiębiorstwo Budowlane as the first subsidiaries to be incorporated. Analysts say that these plans should make gathering operating funds easier for the company. Fuente has admitted he would not reject the possibility of withdrawing Mostostal from the stock exchange, yet underlined that the company should currently focus on adapting to market needs and optimizing costs, while keeping employment levels unchanged. "We have already introduced a strict cost control system which will result in a 25% cost reduction. Another goal is to strengthen our position in the road construction sector," said Fuente. (Puls Biznesu, pp. 1, 9) M.K.