Enea, Bogdanka Węglokoks Country and the recovery plan for KHW – Banker

The emerging recovery plan for KHW (KHW) implies the involvement of companies Enea, Węglokoks country and mine Bogdanka, which, however, will remain independent – said on Thursday Deputy Minister of Energy Grzegorz Tobiszowski.

 

Węglokoks currently preparing its bid for involvement in KHW; ultimately holding and belonging to the group Węglokoks company Węglokoks Country can be combined. Decisions are to be made by June this year.

 

“It is the willingness of Enea to invest in the holding company, and today we are waiting for what will offer us the board Węglokoks (.) Would depend me, we do not later than June could decide the fate of the holding company, creating as a clear structure of the sector coal Poland “- said the deputy minister during a meeting with journalists in Katowice.

 

Węglokoks Country is a subsidiary Węglokoks, which includes two bought last year from Coal Company mines: Bobrek and Piekary, then combined into a single facility.

 

“I think that ultimately, within a year, you would think about it, that the structure of the holding company and Węglokoks Country was one entity, because this is one market sales, and important that we do not compete with each other” – said the deputy minister, who Wednesday is also the government’s plenipotentiary. restructuring of the coal mining industry.

 

Tobiszowski reported that built for KHW structure is formed with the participation of Enea, Węglokoks and Bogdanka, but podlubelska mine, which is currently more than 60 percent. Enea share is not lost independence.

 

“Bogdanka must be treated as an entity independent because of the conditions, distance, site of action, the specificity and the market; you need to retain full autonomy Bogdanka (). Bogdanka will always be independent, be it managing board appointed by Enea, like today “- said the deputy minister, ensuring that this mechanism will be retained even if Enea together with Węglokoks create a structure involving KHW.

 

“Bogdanka no danger, no unification, no inclusion of the holding company, but also the holding company does not threaten the inclusion of Bogdanka. It is the respect of these two markets” – explained Tobiszowski.

 

Currently – said attorney – is crucial to offer Węglokoks, which must assess the extent to afford a financial commitment KHW and in what time perspective. Węglokoks now analyzes the value of the holding; Enea has already done, their analysis also has a Ministry of the Treasury.

 

In February this year Tobiszowski estimated that Katowice Coal Holding needs capital support 400-500 mln zł. These will be the measures, many of which must be invested in development projects in the mines, so that you can effectively extract coal.

 

KHW is one of the three largest mining companies. It employs more than 14 thousand. workers in four mines. Representatives of the holding company estimate that the visible effects of the recovery program implemented to reduce costs by 540 million zł compared to 2014. In implementing the program, the company optimize costs, employment, property and mining. Holding has not revealed its results for the previous year. (PAP)

 

mab / MHR /