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FAMUR and Polish Development Fund collaborate to help Polish mining industry

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World Coal,

FAMUR S.A. and Polish Development Fund (Polski Fundusz Rozwoju – PFR) have signed an agreement of common investing in Mining Equipment Finance Sp. z o.o.

The main business area of FAMUR Group's company is to finance strategic investments in terms of modernisation of the mining and power energy sectors. These investments are implemented by domestic mining companies. Indirectly, the project will help to accelerate and strengthen the growth rate of the efficiency and safety of raw materials extraction in Poland.

Deputy Prime Minister, Minister of Development and Finance Mateusz Morawiecki, said: “One of the foundations for our economy development is reindustrialisation, understood as creating and strengthening the future industry in Poland. We should not waste any more development opportunities, that is why we create very specific solutions, impulses that will help to make best use of these opportunities. Modern technologies, such as robotics and automation, can make today’s heavy industry to be lighter; to improve its efficiency, to increase the number of possible applications or to make it more flexible during the process of market expansion.”

The collaboration between FAMUR and PFR consists of providing and financing the mining machines produced by FAMUR S.A., through the Mining Equipment Finance special purpose vehicle.

“The cooperation between the FAMUR Group and Polish Development Fund is a combination of the active company force with the flagship development institution of the increasingly enterprising state. The domestic sector of mining machinery and equipment may become one of the world champions over a span of several years, and FAMUR, by adapting its offer to the realities of the Industry 4.0, has the opportunity to effectively compete with the largest global players,” added Deputy Minister of Development Jadwiga Emilewicz.

“The extensive portfolio of technologically advanced machines and modern solutions have enabled the FAMUR Group to be a significant partner in the process of the mining industry modernization in Poland for many years. Through the collaboration with the Polish Development Fund we are gaining a new tool within financial processing of significant investment projects in the mining and power sectors. We believe that it will have a positive impact on the pace of modernisation of domestic mining companies”, commented Miroslaw Bendzera, CEO of FAMUR S.A. “Our intention is to increase efficiency and safety, as well as to support R&D activities and innovation implementations in the industry.”

Pursuant to the agreement, FAMUR and Polish Development Fund will participate in financing projects launched within the company, and each involvement of funds will require the consent of the Supervisory Board to be composed of representatives of the two investors.

“The paradigm of the current economic model and the stable economic growth is the cooperation of state institutions and private entrepreneurs. Opening a new area of joint activity by FAMUR and PFR is compliant with the assumptions of the Plan of Deputy Prime Minister Mateusz Morawiecki and will allow for significant acceleration of investments in mining and power sectors; and thus, also for implementing one of the elements of the long-term vision of Poland’s development – believes Miroslaw Bendzera. – Increasing emphasis on the innovation development and consequently the transformation of the mining industry towards a diversified, technologically advanced Industry 4.0 is one of the most important areas we intend to support,” concluded Bendzera.

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