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The Management Boards of the Pioma-Odlewnia Sp. z o.o. and Kopex Foundry Sp. z o.o. limited liability companies, members of Polska Grupa Odlewnicza S.A. (PGO Group), have adopted a merger plan. The merging of the two companies will be achieved by Pioma-Od

In deciding to acquire Kopex Foundry, PGO Group was guided by the opportunity to expand its outlets and product portfolio, exploit its joint potential, and exchange competences, all in order to better respond to the customers’ expectations. A natural consequence of acquiring Kopex Foundry is the decision to merge it with Pioma Odlewnia, which operates in the same product segment. One of the significant aspects directly related to the acquisition was the possibility to coordinate the activities of both companies, which operate in almost identical market areas.

- We have chosen the optimal solution. The merger gives us the opportunity to fully exploit our synergies and optimize our operational activities - observed Arnold Bul, President of the Management Board of Pioma-Odlewnia and Kopex Foundry.

- The merger also allows us to simplify the Group’s structure, with two companies currently occupying the same product segment, i.e. steel castings, operating together - added Rafał Kania, Vice-President of the Management Board of Pioma-Odlewnia and Kopex Foundry.

The integrated entity will have additional opportunities to advance in its R&D activities, specialize its production, and ensure a uniform high standard in customer service. This merger will also help reduce administrative, operating, and management costs.

Source: Polska Grupa Odlewnicza S.A.

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