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PG SILESIA takes over „Silesia” Mine

09.12.2010

Today PG SILESIA and Kompania Węglowa S.A. signed a dispositive contract connected with selling organized part of enterprise called KWK “Brzeszcze-Silesia” Ruch II “Silesia”. As the result of signing abovementioned document, transaction was finalized and PG SILESIA, which belonged to Energetický a průmyslový holding, completely took over all operations of Silesia Mine.

Under the contract production license has been transferred from Kompania Węglowa S.A. to PG SILESIA. Transaction has been completed after almost 6 months from signing conditional sale contract in June 2010. First offer of purchasing Silesia Mine was submitted in October 2009.

Before final taking over the mine, PG SILESIA conducted a Social Agreement with all (five) Trade Unions. Social Agreement guaranteed all 738 employees of Silesia Mine possibility of continuing the work and salary on, at least, the level as hitherto.

Successful completion of sales transaction, which is the first one of this kind in Poland, begins long-term perspective of the “Silesia” mine’s development. – said Tomáš David, Director of Energy Sector Development of group ENERGETICKÝ A PRŮMYSLOVÝ HOLDING, acting CEO of PG SILESIA. – Our goal is to transform “Silesia” mine into the profitable mine, into the company which uses modern technologies, the company which secures the future and working place for all employees. I believe we can become one of the leaders in Polish mining sector when it comes to efficiency and safety.

Coming to the end of the project, which was of large scale of complexity, shows how difficult is to implement purchase-sales project of the hard coal mine. Despite the fact that both parties were extremely engaged into the project, it was the first transaction of selling organized part of enterprise, which is “Brzeszcze-Silesia” Ruch II “Silesia”, and it showed how many problems, we weren’t aware of, must have been resolved. First of all, I wish the new owner mining luck and the employees enjoying the work in the new company. With attention and curiosity, we will keep an eye on the new solutions proposed by PG SILESIA. We can learn a lot from everyone. Conducted meetings and intensive dialogues showed that we are dealing with professional and creative people. I would like to thank our negotiation’s partners for huge commitment and willingness of good cooperation. – commented this event Jacek Korski, vice chairman of the Board of Kompania Węglowa SA.

Representative of Trade Unions, operating in „Silesia” Mine, Dariusz Dudek, president of NZZ Solidarność, added: Concluded Agreement is a compromise between the Social Party (so employees) and expectations and possibilities of the investor. The most important thing for us is the guarantee of employment, safety and appropriate level of remuneration – and these were included into the Social Agreement. The Social Party sees the signing the Social Agreement as the huge success which guarantees development, stabilization and better future of “Silesia” Mine.

Energetický a průmyslový holding, a leading, long-term strategic investor in the energy, mining and industry sectors, considers Poland to be very attractive market, with long-term development’s potential. During next three years we are planning to invest 100-150 million Euro in modernization of the mine and its activity, so as we are able to achieve the production level of approximately 3 million tons gross per year. It will also bring significant number of new working places. – added Tomáš David.

Aleš Gavlas

Director of Communication and PR Department

Przedsiębiorstwo Górnicze "SILESIA" Sp. z o.o.