Instal-Lublin acquired by Polimex-Mostostal
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Polimex-Motostal has signed an agreement for the acquisition of Instal-Lublin, thus extending the offer of the capital group to include services in the installation industry. Polimex-Motostal plans to use the resources and know-how of Instal-Lublin for the installation of HVAC systems implemented in energy projects, such as the construction of a new power unit in Puławy and non-emission gas and steam units at the Dolna Odra Power Plant. For this and other purposes, Polimex-Motostal acquired 100% of the company’s shares from its receiver for PLN 1.22 million.
According to the president of Polimex-Motostal Krzysztof Figat, Instal Lublin is to be involved in the projects above as well as in many other projects conducted by the company – including the HVAC installations. The capital group focuses on the diversification of its activities, taking full advantage of the synergy of companies belonging to Polimex-Motostal. Both companies have carried out many contracts together over the years, in areas such as energy (Opole Power Plant, Kozienice Power Plant, Orlen Włocławek), industrial (Bogdanka, Inowrocławskie Zakłady Chemiczne, SM Ryki, Bridgestone Tire Factory, Farmacol) and cubature investments.
The bankruptcy trustee of PartnerBud in bankruptcy reports that on April 1 this year it sold 650,000 series A registered shares of Instal-Lublin to Polimex-Mostostal. The fee of PLN 1,217,000 was paid in full to the bank account of PartnerBud’s bankruptcy estate.
Polimex-Mostostal is an engineering and construction company established in 1945. Together with other companies forming the Polimex Capital Group, it provides services in many industries, such as: energy, chemistry, refining and petrochemicals and environmental protection. The group’s consolidated sales revenues reached over PLN 1.5 million in 2019.