Węglokoks may help rescue Kompania Węglowa

Coal exporter Węglokoks could buy four mines from sector giant Kompania Węglowa (KW), the firm’s CEO Jerzy Podsiadło said at the Economic Forum in Krynica. The deal could help KW battle its financial problems. “We would be interested in buying four mines from Kompania Węglowa. We have been saying for a long time that we want to get stronger in coal production,” Podsiadło was quoted as saying by the Polish Press Agency. The CEO said that specific mines have not been chosen yet, but they could be “two good and too bad ones.” He added Węglokoks would have to look for external financing to carry out the deal. More information on the possible transaction will be available after KW completes consultations of its restructuring plan.