Mar 2007

Foreign Expansion of KOPEX

Foreign Expansion of KOPEX
Kopex from Katowice develops a strategy of foreign expansion. The company plans to intend a half billion Polish Zlotys for investments and takeovers of companies all over the world.
For nearly a half billion dollars the company is going to buy a coal mine in Indonesia. Kopex has recently signed a memorandum for the turn – key construction. The accomplishment of the investment is going to last 3 to 4 years. The company aims to create a joint venture in Indonesia.
The Asian contract may become the foundation of a long lasting cooperation. Indonesia intends to construct 8 further mines. “The world mining expects complex servicing, from designing to constructing, and in these areas we are specialists”, so Krzysztof Jędrzejewski, member of the Board of Directors and co-owner of the company.
Large-scale shopping
This is far not enough of the foreign investments and contracts of the company from Katowice. At the end of August Kopex created a joint venture firm in China – Tago Mining Machines Manufacturing. The full production power will be achieved by the company next year and the sales will amount to 120 million EUR p.a. Soon Kopex is to finalise the transaction of buying a controlling stake of shares (51%) in an Australian company producing chain and flight conveyors Inbye Mining Services. The company also purchased shares in three Serbian companies: MIN Holding AD Mont, AD Fitip and AD Oprema. These are manufacturers of mining machinery, steel constructions, and offer construction services. In the middle of the year Kopex has also bought 51 percent of shares in a Russian firm Rus in Nowokiznieck. Further takeovers in Poland as well as in Germany are negotiated.
“We prepare ourselves for further takeovers also in the EU states” says Tadeusz Soroka, chairman of Kopex.
In coming days the Board expects a final agreement from UOKiKU (Office for Competition and Customer Protection) on the takeover of Hansen Sicherheitstechnig company from Munich, the worlds second largest producer of electronic security and control systems for mining machinery. In future Kopex intends to buy out the remaining shares of the company.
Millions for shopping
This year and the coming year Kopex is going to intend over 500 million PLN for investments and buying of companies. This year ZZM Kopex group expects a net profit amounting to 124 millions PLN, the income is going to increase from 862 million PLN in the year 2006 to 1.5 million PLN. Value of the capital group is currently calculated for approximately 3.5 billion PLN. “In the nearest two or three years, when Kopex becomes a global firm, its value will considerably increase” – forecasts the Board of Directors. In nearest months the company should be placed among the WIG20 companies on the Warsaw Stock Exchange, says Tadeusz Soroka. The Board of Directors of the company also thinks about a debut on foreign stocks. 
„Rzeczpospolita” 14.09.2007.
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