15.06. Warsaw (PAP) – One of the largest industrial groups in Poland – Boryszew – concluded on Monday a loan agreement with BGK in the amount of 10 million euros. Money have hit the expansion of factories in China, India and Mexico, a subsidiary of Boryszew Maflow Group.
“The decision to build a manufacturing plant in Mexico is a consequence adopted by our path. We want to be close to our key business partners on the most promising automotive markets. Mexico is our + gateway + NAFTA countries”, – emphasized in a press conference on Monday Boryszew vice president Cezary Pyszkowski.
He added that the group is planning a considerable expansion of production capacity at plants in India and China. “Acquired contracts in recent years, including for BMW starting to come into mass production phase and in the coming quarters will be visible in our financial results,” – he stressed.
President of BGK Dariusz Kacprzyk said that it is the first in Poland transaction in which security will be entirely foreign assets. Head of BGK is counting on long-term cooperation with Boryszew Group, which – as pointed out – should result in the future successive loans earmarked for the development of its activities both at home and abroad.
Kacprzyk when asked by journalists, on how long the credit agreement was concluded, he said that it is about 5-10 years. “We agreed not to give (exact) funding period,” – he stressed.
Maflow Group Managing Director Piotr Wisniewski said that money obtained from BGK enough group to present investment needs. “Certainly in the future we want to continue to invest. We receive eg. A lot of inquiries from China and it is possible that we will think about another plant there” – he pointed out.
Kacprzyk also spoke about other forms of export support by BGK. It’s about FIZAN Foreign Expansion Fund created as part of the asset management company BGK. It has support expansion beyond national borders by investing in foreign entities Polish companies. “This week we assume the first certificates, which means that the fund is powered up” – stressed the head of the BGK. He declared that BGK is planning to spend up to 1.5 billion zł for the fund in the coming years.
Boryszew Group is one of the largest industrial groups in Poland, with production facilities located in the dozen countries. It employs more than 8 thousand. employees. It specializes in producing components for car production and processing of non-ferrous metals. In the last year had over 5 billion zł revenue and net profit exceeded 155 million zł.
Maflow Group produces air conditioning conduits for cars. It includes, among others, production plants in Poland, France, Spain, Italy, India and China.
BGK is a state-owned development bank, which implements programs for Polish economic growth.
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