Metamorphosis of Polimeks-Mostostal

Two new partnerships, which were separated from Polimeks-Mostostal S.A., will start their activities in December. They will be responsible for obtaining and realizing important contracts.

As a result of development of Polimex-Mostostal partnership, a holding structure is going to arise and its main components will be specialized in engineering and design activity in energetics and petrochemical industry and also service activity. Employees who worked earlier in segments of petrochemical industry and energetics will be transferred to Naftoremont-Naftobudowa and Polimex Energetyka. New partnerships will use a guarantee line which totals 60 million zlotys.


Our partnerships-daughter will have provided perfect conditions to development. They will continue the realization of contracts which are presently run in petrochemical and energetics segments. We provide capital as well as bank guarantees – explains Maciej Stańczuk, p.o. chairman of Polimex-Mostostal S.A. board. – New partnerships will have to build stable and strong position on the market using experience and knowledge of employees.


Polimex Energetyka partnership will be professionally engaged in obtaining new energetic projects, orderings for modern installations within environmental protection as well as assembly services and it will also participate in the realization of Kozienice and Opole power plants. The chairman of Polimex is Jacek Czerwonka.


Naftoremont-Naftobudowa will be responsible for refinery and petrochemical installations, building of industrial bakes, biodiesel installations and prefabrication of steel mantle constructions of bakes. The partnership is led by Maciej Barycki. Both partnerships will be recapitalized from means gained from the emission of obligations. 80 million zlotys will be intended for their recapitalization.


Polimex-Mostostal group will have a new character. We want  to concentrate on business, gaining new contracts and timely realization of lasting projects – comments Joanna Makowiecka-Gaca, vice-chairman of Polimex-Mostostal S.A. board. It is possible thanks to financing of agreements with creditors and engagement of a strategic investor, that is ARP S.A.


Creditors converted obligations which total 501 million zlotys on shares of this partnership. Polimex-Mostostal S.A. issued jointly 2 billion 863 million shares of R series, the average assessment of which amounted 17,5 groszy. We started works on the emission prospect, the aim of which is to introduce shares of R series to public trading. Probably it will start on the beginning of the following year – says Krzysztof Cetnar, vice-chairman of Polimex-Mostostal S.A. board. Bond holders and creditors are going to appear after the conversion of liability for shares among shareholders of Polimeks-Mostostal.


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