A subsidiary of Poznańska Korporacja Budowlana Pekabex S. A. enters into a major agreement

A subsidiary of Poznańska Korporacja Budowlana Pekabex S. A. enters into a major agreement

The Management Board of Poznańska Korporacja Budowlana Pekabex S.A. with its registered office in Poznań (hereinafter referred to as the “Issuer”) would like to inform you that today it entered into a letter of intent with MBM-BUD sp. z o.o. with its registered office in Poznań (hereinafter referred to as “MBM”) regarding potential cooperation in respect of marketing of a unique prefabricated three-layer wall and a new type of connector for prefabricated walls (hereinafter referred to as the “Project”). As part of the Project, MBM plans to introduce to its offer innovative solutions, protected by intellectual property rights, ensuring key competitive advantages in terms of weight, thickness, transport and assembly of walls. The Issuer owns 24% of the share capital of MBM and declared, as part of the Project, that it is interested in the purchase, by Pekabex Group entities, of 420,000 sq. metres of MBM products in 2020-2023. MBM intends to obtains a subsidy for the Project from the European Union funds within the framework of the Smart Growth Operational Programme 2014-2020, sub-measure 3.2.1 “Research for the market”. Furthermore, Pekabex Inwestycje II S.A., a subsidiary of the Issuer, entered into an agreement with MBM regarding lease of land with the area of 11,700 sq. metres in Badowo Mściska (Mszczonów commune), where MBM plans to construct a manufacturing hall for the manufacturing of the above-mentioned products. The lease agreement will take effect if MBM receives the subsidy and implementation of the Project is commenced.

Further cooperation as part of the Project will be conditional upon MBM obtaining the subsidy for the planned undertaking and commencement of Project implementation. The Issuer would like to inform you that detailed negotiations on financial and commercial terms of purchase of the products from MBM have not started yet and the letter of intent is non-binding. The letter of intent was regarded as a major agreement due to the fact that the estimated value of the products to be purchased from MBM by Pekabex Group entities if the Project is implemented will most probably exceed 10% of the Issuer’s consolidated equity; however, the exact value is not known yet for reasons stated above.

150 150 Pekabex - budownictwo prefabrykowane
Privacy Preferences

When you visit our website, it may store information from certain services through your browser, usually in the form of cookies. You can change your privacy preferences here. It is worth noting that blocking certain types of cookies may affect your experience on our website.

This website uses cookies for statistical, advertising and functional purposes. More information HERE