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PFR and Bydgoszcz Pesa agreed terms of the contract for the inclusion of the producer in the state portfolio. Pesa is to receive PLN 1.5 billion for the production of vehicles. This amount includes about PLN 1 billion loan, insurance guarantees and PLN 300 million directly from PFR. According to Zygfryd Żurawski, the chairman of Pesa Holding representing the shareholders, the money should be paid into the company account at the end of August.
"Pesa diamond"
He adds that it would be difficult for the company to obtain a loan for such an amount. – With PFR as our guarantor credit is possible. Money is not a grant or a gift. We will get them on market conditions – he says. PFR will also buy the shares of Pesy, but it has not revealed how much they will cost.
Paweł Borys, the chairman of PFR, argued at the Bydgoszcz meeting that he believed in the long-term potential of Pesa. – If the company will execute the contracts on time, it will be the end of Pesy's financial problems – he said. Żurawski replied that the PFR would be a perfect deal by taking over Pesa. – It will be a diamond on the Polish market – he felt.
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