The passage of the bill was made possible thanks to the commitment of Silesian MPs, theMinistry of State Assets and the Ministry of Energy, which actively supported the development and legislative process of measures aimed at stabilizing key companies of significant importance to the national economy.
The new regulations are designed to support companies facing financial difficulties by providing them with an additional financing option. Loans from ARP may be used for reorganization efforts, cost optimization and improving operational efficiency. The loans will be conditional on submission of a recovery plan and demonstration of the ability to repay the debt.
The explanatory memorandum to the bill emphasizes that this measure is intended to provide quick liquidity support to key companies, such as JSW SA. The amendment to the act is also part of the implementation of the agreement with the trade unions signed on 13 February which provided, among other things, for the development of additional tools to stabilize the company’s financial standing.
Bogusław Oleksy, acting president of JSW SA, emphasized that the Sejm’s decision represents an important step in the process of stabilizing the Company. As he said: We are pleased that things at JSW are moving in the right direction. This solution gives us a real opportunity to continue our restructuring efforts and further strengthen the Group’s foundations.
In recent months, the Company has been implementing intensive remedial measures, including business restructuring, simplifying its organizational structure and reducing labor costs. In addition, in March, ARP acquired two subsidiaries from JSW SA – Przedsiębiorstwo Budowy Szybów and Jastrzębskie Zakłady Remontowe – for over PLN 1 billion, which also strengthened the Group’s financial liquidity.
The amendment to the act will now go to the Senate. Once it enters into force, ARP will be able to launch lending instruments that constitute a key component of support for companies of strategic importance to the Polish economy.
