GK Gwarant withdrawing from mining sector

2010-03-02

GK Gwarant, which comprises a number of plants producing materials for the construction and automotive branches, intends to wind down its operations in the mining sector. In connection with this fact it has decided to sell Rybnicka Fabryka Maszyn Ryfama to Kopex, Rzeczpospolita reported.
The group's plans include entering the Warsaw Stock Exchange, and has scheduled its debut for 2011. Gwarant intends to reduce its presence in the mining sector gradually, and its recent finalisation of the sale of Ryfama to Kopex is part of this strategy. The group now wants to focus on producing steel structures, mouldings and industrial installations, as well as parts for the automotive industry and fittings. According to Gwarant's senior management, 2010 will turn out to be far more fruitful than 2009 and it is hoping to achieve better financial results than last year.

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