KGHM Polska Miedz SA Buys Quadra FNX According to BAC Company Report
05 Apr 2012 • by Natalie Aster
LONDON - KGHM Polska Miedź recently announced a successful agreement with Quadra FNX, a Canadian owner of copper mines in Canada, USA and Chile and co-owner of Sierra Gorda project. In December 2011 Polska Miedź offered the Canadians a CAD 15 price per company share to finish the deal as a friendly takeover. The vote between with Quadra FNX shareholders passed in February 2012 with over 2/3 support.
The acquisition will enable Polska Miedź to diversify its product portfolio by nickel, molybdenum, gold, lead, palladium, platinum, rhenium and technical selenium, increasing company’s copper production volume by 25%. In future it will add 25% more to the output. Total mineral resources of the company (potentially more than 8.2 million tonnes of copper) will put Polska Miedź on the fourth place among world copper producers.
Polska Miedź is well-positioned to penetrate the market. Its financials give a picture of success, marking numbers’ growth period over period. Thus, December 2011 brought revenues of PLN 5.4 B, operating income of PLN 4.4 B, net income of PLN 3.6 B, and profit margin of 66.1%. Annual results reveal an impressive indices increase in 2011. Revenue grew by 32% to PLN 22.1 B, gross profit added 40.5% and reached PLN 10.5 B, operating income gained 139.8% to equal PLN 13.2 B, and net income was PLN 11.1 B which is a 135.3% increase against 2010.
Founded in 1959 and headquartered in Lubin (Poland), KGHM Polska Miedź is copper (9th in the world) and silver (3rd in the world) miner and manufacturer. The company also has minor production capacities of gold, lead, rock salt and sulfuric acid. In 1991 the company was reformed from state owned to joint stock, entering Warsaw Stock Exchange under the ticker KGH.
Other details on the company’s business, products, financials, competitors and more can be found in the report "KGHM Polska Miedz SA Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis" recently published by Market Publishers Ltd.
Title: KGHM Polska Miedz SA Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis
Date: Mar, 2012
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