Mediafax (Mediafax)
Czech markets  |  October 05, 2010 16:45:05

NWR wants to buy a Polish mine Bogdanka for 21 billion


Mediafax

PRAGUE (MEDIAFAX) - The offered price per share amounted to 100.75 zloty (approximately 621.5 dollars), which is 13 percent more than the closing price of shares as at 4 October this year. NWR is ready to pay money to clients immediately. Obtain the required financing from own resources (325 million euros, 7.96 billion dollars) from the bridging loan from a related company BXR Mining, which is the majority owner of NWR, and since by JP Morgan Securities and Citibank Europe. The potential future supply is also the possibility for shareholders to reinvest their funds Bogdanka in the future related groups.

Combining NWR and Polish mine created the Central European market leader in coal reserves of around 658 million tons and the expected long-term production at around 25 million tons of coal annually.

"Combining NWR and Bogdanka created Central European leader in the mining of coal, with Poland as the most important countries of their future development. This combined group will have sufficient size and resources to become a strong platform for further regional consolidation, using a strong base of reserves, and product geographic diversity and complementary customer base. connection also brings two best teams of top executives with major development projects and shared values ??in the use of substantial growth opportunities generated by growing regional automotive production and demand for energy, "said bid chairmanBoard of Directors of NWR Mike Salamon.

Offer in accordance with NWR strategy to maintain a leadership position in the sector of mining and production of coal and coke in Central Europe. The company had previously indicated that it will use the opportunity to grow both in Poland and other countries in the region.

In the Polish mine Bogdanka by NWR would like to double its intention of coal production to 11 million tonnes per year

NWR is a leading producer of hard coal and coke in Central Europe. Through its subsidiary OKD produces coking and thermal coal for the steel and energy sector in Central Europe. Another subsidiary of NWR OKK coke plant is the largest European producer of foundry coke.Thanks to its strategic position in Central Europe is a major supplier of NWR customers in Central Europe, including Arcelor Mittal Steel, CEZ, Dalkia, Moravia Steel, U.S. Steel, Voestalpine and Verbund.

A company registered in the Netherlands, employs over 18 vendors, including 800 workers. Currently NWR mined coal in the Czech Republic and other implements two projects in Poland, and Debiensko Morcinek, through its wholly owned subsidiary of the Polish Karbonia. Market capitalization stood at 4 NWR October 2010 about 2.3 billion euros (56.34 billion dollars), the Company is listed on stock exchanges in London, Prague and Warsaw.

Bogdanka, registered in Poland and listed on the Warsaw Stock Exchange is one of the largest coal mining companies in Poland and one of the leading companies on the Polish market for thermal coal. In 2009 Bogdanka sold 5.2 million tons of coal, representing about semd percent of total coal production in Poland and 11procentní share in the supply of Polish coal thermal power plants.

Bogdanka mining area is divided into three mining areas: Bogdanka, and Nadrybie Stefanów. According to the latest estimates of reserves to production until the 2034th Moreover, the company plans further expansion in areas where current benefits, so as to reach the reserves of hard coal, which can substantially extend the life of the mining areas.The most important tkaovým project is currently in the development of mining Stefanowě, the result would be an increase in mining in 2014 to the level of annual production of about 11 million tons from its current annual production of 5.5 million tons.

In 2009, sales totaled 1.118 billion in total Bogdanka Polish zlotys (about 280 million euros, 6.86 billion dollars), EBITDA reached PLN 368 million (92 million euros, 2.25 billion) and net profit of 191 million zlotys (48 million euros, 1.176 billion dollars). At 31 December 2009, the value of total assets Bogdanka 2.47 billion zlotys (618 million euros, 15.14 billion dollars).

Filip Sušanka, susanka@mediafax.cz

Related messages:Evaluation plan to buy NWR Polish Bogdanka

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NWR chce koupit polský důl Bogdanka za 21 mld.Kč

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