Boryszew has signed bank financing with Bank Gospodarstwa Krajowego (BGK) for restoring plant productive capacity. Prenzlau’s plant provides plastic injection moulding solutions and produces galvanized elements for motor industry. The investment is co-financed by Land Brandenburg in co-operation with PKO Bank Polski Niederlassung Deutschland.
A total cost of € 21 million of Prenzlau’s investment helps not only to regain lost potential but also to take technological leap forward and – most importantly – significantly improve the productive capacity. The plant of 15,000 square metres will operate with modern assembly line galvinising plastic elements with overall capacity of 400,000 square metres per year. The factory will be officially launched by the end of 2016.
“The plant in Prenzlau is key for the development of our motor sector. It will provide a competitive advantage thanks to modern and unique technologies at European level,” says Cezary Pyszkowski, Board Member of Boryszew SA.
„One of the main reason to decide about such major investment is the potential of our well-trained and motivated staff. I am truly glad that I can now officially announce this next step as it is crucial for us,” says Lutz SuhrbierGeneral, Manager at Boryszew OberflächentechnikDeutschland GmbH
“Foreign investment financing is still quite rare in Polish banking. BGK is the ultimate predecessor and its goal is to build strong national banking which supports enterprise. We provided long-term financing and it’s much longer than this offered by other commercial banks. Based on that we are able to meet these undertakings and we can assist Boryszew with international expansion on very demanding German market,” adds Dariusz Kacprzyk, CEO of Bank Gospodarstwa Krajowego.
The investment will be financed with compensation funds from destroyed plant during the fire, a loan, the company’s own funds and additional funding that Boryszew proceeds to obtain from Investitionsbank des Landes Brandenburg (ILB). The investment is also supported by Bank Polski Niederlassung Deutschland.
Boryszew Group is one of the biggest Polish industrial groups. It employs over 8,000 staff in 13 countries stretched over 3 continents. The Group is a car component manufacturer for car industry and specializes in a non-ferrous metals processing. In 1H 2015, the Group posted 3 PLN billion of a net revenue with a net profit of PLN 53 million.