Rafako will launch arms production
Rafako is a longtime contractor for energy blocks and a manufacturer of energy equipment, for years one of the largest employers in the Racibórz region. The head of government said on Tuesday that although the continuation of Rafako’s current activity is impossible, Nothing prevents you from where boilers were once made, now launch arms production. Tusk pointed out that there is Polish and European money to spend and in the interest of state security is to spend it on arms production.
Rafako bankruptcy
RAFAKO Board He submitted a bankruptcy declaration on September 26, 2024, indicating the inability to agree with the key creditors of detailed rules for the conversion of the Company’s obligations to shares in increased share capital or an alternative scenario of further restructuring of the company’s obligations that would reduce debt. It is according to Rafako It could allow the company to regain the ability to obtain external financing for future orders.
In September last year, the management of Rafako explained that to loss of financial liquidity and the need to submit a declaration of bankruptcy led to the termination by JSW Koks Mediation conducted from Rafako before the General Prosecutor’s Office and collect from the warranty deposit PLN 20 million together with a payment of PLN 35 million of warranty. The JSW Koks agreement with Rafako concerned the construction of a cogeneration tanned energy block coke gas with a power of approx. 32 MW of electric and 37 MW heat. JSW Koks explained its actions by a significant exceeding by Rafako dates and costs of the contract.
The District Court in Gliwice issued a decision on the bankruptcy of Rafako December 19 last year (it became final on January 21). January 23 this year The Rafako trustee announced the conduct of this year until the end of February. group layoffs, covering up to 699 employees of the company. This happened because of the poor economic situation of the company, the court issuing a bankruptcy decision, the need to liquidate the workplace, including the liquidation of workplaces, as well as the lack of other possibilities of conducting business by the Company or the use of its resources.
Attempts to develop a new business model
At the beginning of April this year. Industrial Development Agency informed that Polimex wants to join the company with ARP and TF Silesia to take over the selected Rafako assets. ARP said in a statement that the business model assuming a new and strategic sectors for economic development is currently under development. In a communiqué published by Polimex Mostostal, it was written that the concluded conditional investment agreement assumes that Polimex, ARP and TF Silesia will join the company created by one of these entities and will cover shares in an elevated share capital to PLN 9 million each. This company would take action to take over the organized part of the enterprise or selected Rafako assets.
In March this year Ministry of State Asset She told PAP that he was looking for solutions for Rafako so that the company could continue to function. The ministry then admitted that ARP participates in talks with a potential investor regarding the takeover of the company and creating a model of its financing. He also assured that for a long time he has seen the need to take effective actions in order to, among others stabilizing the situation of Rafako. However, because the maps do not have instruments enabling direct support of entities in a difficult situation, they asked the ARP and PFR to present the possibilities of Rafako support.
The ministry reminded at that time that the talks and the proposals presented in 2024 did not allow to reach agreement, due to the lack of acceptance from the management board of Rafako and the main shareholders and creditors of the company.
At the end of January this year. Trade unionists from Rafako, president of Racibórz and staroste Racibórz signed an open letter to the prime minister to accelerate the procedures aimed at saving in the bankruptcy of the plant. (PAP)
