On 27 June 2017 FAMUR SA took over 65.83% of KOPEX SA shares from TDJ. It is one of the key steps in the integration process of KOPEX and FAMUR Group. The transaction was financed from the funds that come from the issue and sale of new shares of FAMUR.
As a result of the transaction between FAMUR SA and subsidiaries of TDJ, FAMUR acquired 48,932,015 ordinary bearer shares of KOPEX SA which constitute 65.83% of share in the share capital of KOPEX SA and provide the same number of votes during the general meeting of KOPEX SA The transaction amounted to PLN 204 million and the purchase price of one KOPEX share was PLN 4.17.
The integration plan of FAMUR and KOPEX was published on 9 May this year. It assumes the inclusion of the machinery section of KOPEX in the FAMUR Group. The finalisation of the process will make it possible to increase the scope of activity and potential and to significantly speed up the implementation of the international expansion programme – Go Global, on which the development strategy of the Group companies is based. The FAMUR plans assume that half of the company revenue will come from foreign markets.
– The takeover of KOPEX by FAMUR opens a new chapter in the history of Polish manufacturers of mining machinery. This operation is crucial for the future of the FAMUR Group. The merger of potentials of both companies gives us the opportunity to create the Polish champion, which will be ready to implement comprehensive mining and energy projects around the world. We want to be a strong player on the international market of mining machinery and fully exploit business opportunities carried by the noticeable revival in the investments on the mining market – both in Poland and in the world – says Mirosław Bendzera, CEO of FAMUR SA
The completion of the ongoing operational integration of FAMUR and KOPEX, understood as the release of the full synergy effects, is planned for the end of 2017. The formal finalisation of the process is expected to take place in the first quarter of 2018.