Current Report No.: 4/2024
With reference to the current report no. 1/2024 of 16 January 2024, the Management Board of Boryszew S.A. (“Issuer”, “Company”) advises that on 14 March 2024 the subsidiaries of the Issuer listed below, operating in the automotive segment, received a signed agreement (“Agreement”) with an important client of the Issuer (“Client”).
The agreement is for the Client to support the restructuring of the following companies between 2024 and 2026: Boryszew Kunststofftechnik Deutschland GmbH, Maflow Plastics Poland Spółka z o.o. and AKT Plastikářská Technologie Čechy spol. S.r.o. (“BAP Companies”).
According to the Agreement, during the restructuring period, i.e. until the end of 2026, the client will contribute to the costs associated with the restructuring through an agreed price increase on the BAP Companies products.
The Issuer believes that the conclusion of the Agreement will have a significantly positive impact on the results of BAP Companies and Issuer’s Capital Group and will enable BAP Companies to achieve a positive operating result on the EBITDA level during the Agreement period.
The agreement is effective as of 1 January 2024 and the condition for the BAP Companies to receive support is timely implementation of restructuring measures in accordance with a plan.
The basic assumption of the Agreement is that BAP Companies and the Client act jointly and severally. The restructuring process will give BAP Companies operational stability and will improve their market position.
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.