Towarzystwo Finansowe Silesia consolidates the pipe manufacturing sector

Towarzystwo Finansowe Silesia (TFS) is putting a lot of effort into consolidating domestic pipe manufacturers. Prior to the operation, the companies in question will have to go bankrupt, whereby the Katowice-based investor will be able to buy their assets. TFS is hoping the deal will attract Polish Oil and Gas (PGNiG), which originally was to be the center of the entire operation now being carried out. The value of the potential transaction remains unknown, but TFS has already received a zł. 500 million capital injection in the form of shares in Treasury-controlled companies. The deal has already become controversial with some investors asking why a private company has been offered public money to buy the assets of state-controlled firms. The proponents of the deal, however, claim that this is the only way to save the ailing sector. (Puls Biznesu, p. 7) J.K.