Current Report No. 25/2024
The Management Board of Boryszew S.A. with registered office in Warsaw (“Issuer”) advises that the Management Board of its subsidiary Alchemia S.A. decided on 4 November 2024 to initiate the process of liquidation of the Alchemia Spółka Akcyjna Rurexpol Branch in Częstochowa (“Branch”).
The Management Board of Alchemia S.A. decided to initiate the liquidation process, considering, among other things, the anticipated inability of the Branch to compete in the market due to the deteriorating situation in the European steel industry resulting in a decline in demand for products manufactured by the Branch, due to obsolete production technology, high cost of maintaining production activities and the anticipated steady increase in these costs, technologically and economically unjustified increase in expenditure on repairs and upgrading production technology, and the anticipated higher business benefits resulting from the liquidation of assets of the Branch versus those from maintaining production activities.
Rurexpol branch recorded PLN 59.1 million in sales revenue in H1 2024 (in 2023 it recorded PLN 143.5 million in sales revenue, in 2022 respectively: PLN 173 million).
Due to the same reasons as indicated above, the Issuer advised in current report No. 15/2024 of 20 May 2024 of the commencement of liquidation of Walcownia Rur Andrzej in Zawadzkie, branch of Alchemia S.A.
Legal attitude: Article 17 section 1 MAR – Confidential information.
Signatures:
Wojciech Kowalczyk – President of the Management Board
Translation from the original Polish version.
In the event of differences resulting from the translation, reference should be made to the official Polish version.