January 10, 2012, the Management Board of Huta Stalowa Wola SA signed an agreement with the Chinese global concern Guangxi Liugong Machinery Co..
Creation of an entirely new company: Liugong Machinery Poland is the main effect of the agreement. The new company, located and operating in Stalowa Wola, combines technical capacity, technology and human know-how of Huta Stalowa Wola S.A. with the potential for development and global resources of the Guangxi Liugong Group.
Krzysztof Trofiniak, President of HSW S.A., says that an unique model of privatization was developed. This model allows to balance the interests of all the parties concerned to meet the needs of staff and trade unions, the interests of the city and of the region's economy. It also allows both companies to realize their objective: HSW’s commitment to quality and experience of working with clients mixed together with the efficiency of Liugong builds a good starting position for the new company Liugong Machinery Poland on world markets.
After the transaction Huta Stalowa Wola S.A. will continue its’ business specializing in the production of armaments and delivering of cooperation services. The proceeds from transactions involving the sale of construction machinery business to a new company, will be spent on production modernization investments and this way will be used to strengthen HSW’s leader position in the Polish military industry.list of articles