first_imgBack on March 17, 2016, FAMUR SA, through its majority shareholder TDJ, announced a conditional agreement for the purchase of controlling shares of Kopex SA, bringing together the two remaining major Polish suppliers of mining equipment and technology known particularly for complete longwall mining solutions. On June 22, Poland’s anti-monopoly watchdog UOKiK approved the takeover of mining machinery producer Kopex by TDJ, a majority shareholder of Famur, hence there are no more barriers for the merger to go ahead.After the original March annoucement, Mirosław Bendzera, CEO of FAMUR stated: “Fulfillment of this agreement provisions will enable to build one strong entity based both on FAMUR and Kopex. A key condition of this transaction is reaching agreement with existing creditors of the Kopex Group, which will enable the stabilisation of the Group’s financing sources in the long-term. In the current market situation, the consolidation is the right direction for development of both companies, and the intended operation means the opportunity of a significant increase in the scale of activity, quality and efficiency of operations on domestic and foreign markets.”“This is the most important moment in the history of the companies, FAMUR and Kopex. A period that can bring many benefits is ahead of us. This is the opportunity for stabilisation and the excellent base for the development of both companies, and thus of the entire Silesia. The merged companies would constitute one of the largest industrial companies in Poland that could certainly join the group of National Champions, whose creation is being promoted in the development plan by Minister Morawiecki. In this perspective, it becomes even more realistic and feasible to conquer global markets with the ‘Polish Shearer Loader’ and other products we have been known for as Polish manufacturers for many years…the history of both companies shows how the Polish technological ideas can be used for mining development, not only in Poland but also worldwide. Innovative technologies, dynamically operating R&D departments, years of experience are only some of the elements whose quality is appreciated by foreign partners of the FAMUR Group and Kopex.”last_img

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