8/08/2006

Railway Industry in Poland: Polimeks-Mostostal Buys Torpol

Polimex-Mostostal took over shares in Torpol infrastructure engineering company from the company's two private owners Małgorzata Sweklej and Krzysztof Miller. Polimex will pay PLN 24m (EUR 6.1m) for 100% share.
The Competition and Consumers Protection Office (UOKiK) approved the transaction.

Torpol is a family owned company specializing in rail infrastructure engineering. Last year Torpol made profit of PLN 2m (EUR 0.5m).

The investor plans that in three years from now Torpol will bring profit of PLN 13m (EUR 3.3m)

Polimex will pay PLN 18m immediately and the remaining sum will be transferred under the condition that Torpol will bring the expected profits.

It was the first private company to become a turn-key constructor on a section project on E-20 main corridor Waraw-Poznan-Kunowice. Last year Torpol made PLN 120m (EUR 30.6) which makes 10% of the whole rail engineering market in Poland.

By taking over Torpol Polimex-Mostostal, major player in the construction market, plans not only to enter the rail sector, but also substantiate its position in the tram lines field, road engineering, bridges, etc.
Source:railway-market.p



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