Złomrex waits for EU green light after mill duo deal

The value of the transaction is estimated at zł.193 million, amd will be settled in 20 installments over a five-year period. Złomrex also pledged to invest zł.53 million into the companies. "Concluding these transactions will allow us to repay debts with interest. We are waiting for the European Commission to approve our restructuring program," said Wincenty Likus, president of ZM HSW and HSJ. Next week Złomrex will also sign a social package with the staff in the acquired plants. "We have already initialed the contract," said Mariusz Kunysz, a trade union representative. Employees will receive 54-month employment guarantees, a zł.1,000 bonus and a 2.5% pay increase. HSJ and WB employ over 1,000 persons, while their annual revenues amount to zł.400-450 million. (Puls Biznesu, pp. 1, 7) M.M.