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August 29, 2015 6:32 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Kompania Weglowa S.A.

Company Overview

Kompania Weglowa S.A. engages in drilling, mining, and selling hard coal. The company was founded in 2003 and is based in Katowice, Poland.

ul. Powstanców 30

Katowice,  40-039

Poland

Founded in 2003

Phone:

48 327 57 22 11

Fax:

48 322 55 54 53

Key Executives for Kompania Weglowa S.A.

Chief Executive Officer
Compensation as of Fiscal Year 2015.

Kompania Weglowa S.A. Key Developments

PIR Mulls Proposal To Engage In Miner Nowa KW

Polskie Inwestycje Rozwojowe might be interested in acquiring stake in the spin-off of Kompania Weglowa S.A. Góra Jerzy Góra, Chief Executive Officer of Polskie Inwestycje Rozwojowe S.A. said, "As many other investors, we received such a proposal [to take over a stake in Nowa KW], it is being considered". Poland plans to establish Nowa KW, a spin-off of assets of ailing state-run coal giant Kompania Weglowa.

SRK To Take Over Kompania Weglowa's Mines

The Office for Competition and Consumer Protection (UOKiK) has allowed the Spolka Restrukturyzacji Kopaln (SRK) to take over Piekary, Brzeszcze, Sosnica and Centrum coal mines from Kompania Weglowa S.A. This is part of an agreement reached in January by the government, trade unions and managements of SRK, Kompania Weglowa and Weglokoks S.A. Among others, the Kompania Weglowa restructuring plan foresees divesting the most unprofitable assets. The UOKiK believes that the transaction with SRK will not limit competition on the coal market. The regulator stated the coal mines would be transferred to SRK in order to manage them based on the recently implemented amendment to the coal mining law.

Kompania Weglowa's Mines To Be Sold And Divided

Kompania Weglowa S.A. will be divided and instead of liquidation of the four most loss-making mines (Bobrek-Centrum, Sosnica-Makoszowy, Brzeszcze and Pokoj), state-owned special purpose vehicle SKR (Mine Restructuring Company), will take over Piekary, Ruch Centrum of Bobrek-Centrum, Ruch Makoszowy of Sosnica-Makoszowy and Brzeszcze. The future of the four lose making mines will depend on whether SKR finds buyers for them. According to Rzeczpospolita, Brzeszcze has the biggest chances of being sold. There are at least two potential bidders: Universal Energy Spolka z o.o. and Tauron Polska Energia Spolka Akcyjna (WSE:TPE). By the end of September Weglokoks S.A. will take over other of Kompania Weglowa's mines, except from Ruch Bobrek, which will be taken over by Weglokoks Kraj

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
April 1, 2015
Wspolne Przedsiebiorstwo Energetyczne Sp. z o.o.
Merger/Acquisition
March 4, 2015
Kompania Weglowa S.A., KWK Brzeszcze
Merger/Acquisition
October 24, 2014
Kompania Weglowa S.A., Jankowice, Chwalowice, Bobrek-Centrum and Piekary Mines
 

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