2011-12-14
December 21st , 2011, a ceremony of signing of documents pertaining to a joint undertaking of HSW S.A. and LiuGong was held

On December 15th, 2011 Mr Bronisław Komorowski, The President of Republic of Poland  started a five-day state visit to People's Democratic Republic of China. Mr Krzysztof Trofiniak, President of Huta Stalowa Wola S.A. was one of the members of an official Polish delegation. On  21st of December, early morning (CET) a document  titled “Summary of Agreements Regarding the Sale of First Division of Huta Stalowa Wola S.A” was signed by Mr Krzysztof Trofiniak  and Mr Zeng Guang'an, President of Guangxi Liugong Group. President Bronisław Komorowski and People's Republic of China Deputy Prime Minister Li Keqiang participated in the signing ceremony.

The event is of symbolic nature as two companies of importance to their countries’ economies: Huta Stalowa Wola S.A. and Guangxi Liugong Group decided to start a joint business undertaking named Liugong Machinery Poland. The new company located 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.

The Agreements (notary deeds) binding for both Parties and finalizing two years’ preparations are scheduled to be signed on January 12th, 2012. Funds obtained from the transaction (selling of construction equipment business to the new company)  Huta Stalowa Wola S.A. is going to invest in modernization of its military production and in strengthening its’position as a leader on the Polish military production market.

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