New construction giant second largest on stock exchange

Construction concern Polimex Mostostal Siedlce (PMS), a company formed by the merger of Polimex-Cekop and Mostostal Siedlce, will list its shares on the Warsaw bourse in the first half of September. With zł.1.3 billion in annual revenues, the new venture is on its way to becoming one of the largest companies in its sector in Poland. Its capital, estimated at zł.360 million, gives it a second place in the ranking of construction companies listed on the WSE after Budimex. PMS has also announced plans for further development in the near future. "We will begin by integrating the group. We have to clean up and clarify the structure of the company, starting with the departments which deal with construction of highly specialized industrial and petrochemical projects," said PMS president Konrad Jaskółka. The management of PMS is also looking to develop interests in the Eastern part of the continent, especially Russia. It is hoped that exports will soon to amount to around 40% of the company's revenues. (Puls Biznesu, pp. 1, 3) A.K.