Yet another construction giant could be in trouble, driven down by the road sector in Poland, as Polimex-Mostostal has just begun talks with the debtors to suspend the execution of its debts for another four months. The total value of the company’s liabilities was said to amount to PLN 2.4bn, with non-current liabilities reaching PLN 410m. More than PLN 1bn of the company’s debts comes from bonds sale and loans. The remaining part are payments to its subcontractors and suppliers. The steps were taken to improve Polimex financial condition, Konrad Jaskóła, the chairman of Polimex board said, with some of the development projects expected to go on sale in the near-term. “We’ve posted PLN 15m income coming from the sell-offs in the first half of the year,” said Konrad Jaskóła.
Along with the new deals, the restructurization plan was said to have been introduced, to improve the liquidity and the performance of Polimex, as well as to optimize the human resources management.
