The history of the transaction goes back to July 2018, when the parties agreed on its key terms. On 3 April 2019, the Shareholder Meeting of Jastrzębska Spółka Węglowa gave its approval for the acquisition of a majority stake in Przedsiębiorstwo Budowy Szybów (PBSz). The approval of the Shareholder Meeting was the last condition that had to be satisfied before the acquisition of PBSz by JSW.
– Przedsiębiorstwo Budowy Szybów is a company that will be a valuable addition to the Group, given our development plans in relation to shaft sinking. As we all know, without that, there will be no production growth and the company will not develop. Another benefit is the competence that PBSz has in conducting preparatory works – said Daniel Ozon – President of the JSW Management Board.
JSW needs PBSz among others to extend the existing shafts and to intensify roadway work. JSW mines must extend eight existing shafts and sink three entirely new ones. PBSz will support the Company’s mines also in roadway excavation works supplementing the work of external companies. We should remember that 70 kilometers of roadways are executed in JSW mines every year.
Przedsiębiorstwo Budowy Szybów has unique shaft design and shaft sinking competence on the Polish market. The Company has been successfully implementing complex projects for the Polish mining sector, cooperating actively among others with the JSW Group. The specialist staff of PBSz, which consists of more than 1000 employees, will help JSW implement its strategy for 2018-2030.
