Sunningwell wants to buy the Częstochowa Steelworks

05 Jun

Sunningwell wants to buy the Częstochowa Steelworks

Sunningwell International Polska Sp. z o.o. is ready to buy Czestochowa Steelworks without a tender for 250 million PLN – said President Marek Frydrych.

On Wednesday, June 3, a meeting was held in the District Court in Częstochowa concerning the tender for the sale of the bankrupt ISD Częstochowa Steelworks. It was very short, because no offer was received within the specified deadline. The meeting was also attended by Marek Frydrych, President of Sunningwell International Polska, which on September 19, 2019 leased the Częstochowa Steelworks for a year, took over the employees and resumed production.

Marek Frydrych expressed his willingness to purchase the Częstochowa Steelworks by direct agreement, without a tender procedure, for PLN 250 million, i.e. the starting price in the tender, which did not bring the outcome. He declared that he is ready to pay this amount within three months of accepting the offer.

The trustee of ISD Huta Częstochowa declared that the sale of the enterprise in such a procedure requires the consent of the Creditors’ Council in the form of a resolution and submitted an application for the announcement of a second tender, which, in his opinion, may be resolved in the last week of July 2020 and creates a real chance to sell the enterprise, even before the end of the lease agreement.

Huta Częstochowa, leased by Sunningwell International Polska, currently employs 1186 people and has been Poland’s largest manufacturer of heavy metal sheets for several decades. It also manufactures prefabricated elements for the engineering and construction industries, and has recently resumed the production of batches for other companies in the steel industry, producing seamless pipes.