The companies from the PKP Group: PKP S.A., PKP CARGO S.A. in restructuring, PKP CARGOTABOR sp. z o.o. in restructuring, and PKP LHS sp. z o.o. have signed a letter of intent, declaring their commitment to developing a new operational model for PKP CARGOTABOR. As a result of this transformation, PKP CARGOTABOR has the opportunity to integrate into the structure of PKP LHS, which will help preserve over 1,000 jobs.
Due to the financial situation of PKP CARGO, one of its subsidiaries, PKP CARGOTABOR, also faced difficulties. In response, the PKP Group companies have worked out a plan to transform PKP CARGOTABOR, which includes the possibility of selling or leasing part of the company or the entire company by PKP Linia Hutnicza Szerokotorowa. On December 10, 2024, in Warsaw, a letter of intent was signed by representatives of the companies: PKP S.A. – President of the Board Alan Beroud and Board Member Paweł Lisiewicz, PKP CARGO S.A. in restructuring – Acting President Marcin Wojewódka and Acting Board Member for Restructuring/Acting Board Member for Commercial Affairs Paweł Miłek, PKP CARGOTABOR sp. z o.o. in restructuring – President of the Board Marcin Butryna and Board Member Michał Durak, and representatives of PKP LHS sp. z o.o. – President of the Board Łukasz Górecki and Board Member Jacek Grabek.
Thanks to the initiative of the PKP Group companies, service facilities and other sites related to rolling stock maintenance in various regions of Poland, including Gorzów Wielkopolski, Toruń, Tczew, Kluczbork, Ostrów Wielkopolski, Tarnowskie Góry, Dąbrowa Górnicza, Pszczyna, Kraków, Łódź, Zduńska Wola, and Czerwieńsk, will continue to operate. The agreement regarding the new operational model for PKP CARGOTABOR is expected to be concluded by July 1, 2025. The headquarters of the new entity will be located in Tarnów.
– “The new operational concepts for PKP CARGOTABOR within the PKP Group are further evidence of the immense potential of the holding, which includes various entities operating in the railway market. This is especially visible during challenging times when PKP CARGO and its subsidiaries are actively working on restructuring and rebuilding their position. This initiative is primarily an opportunity to preserve over 1,000 jobs, utilize the vast expertise of employees involved in the repair and maintenance of railway rolling stock, and leverage the technical resources of maintenance bases located in many regions of the country,” said Alan Beroud, President of PKP S.A. and the PKP Group.
– “The letter of intent signed today gives PKP CARGOTABOR a chance to overcome its difficult situation. By combining PKP CARGOTABOR’s potential with the capabilities of LHS, both entities’ market positions can be strengthened. This solution will also be beneficial for PKP CARGOTABOR’s creditors, as it provides them with a faster way to recover their claims. For LHS, part of the PKP Group, this presents an opportunity to expand its services to include those previously offered by PKP CARGOTABOR,” emphasized Paweł Miłek, Acting Board Member for Restructuring and Acting Board Member for Commercial Affairs of PKP CARGO S.A. in restructuring.
– “Currently, the value of the railway rolling stock repair services market is estimated at around PLN 1.5 billion. After restructuring and implementing market-based management methods, the company has the potential to regain its position in the market. However, the details of the transaction will be determined after the analyses that the parties are starting,” commented Łukasz Górecki, President of the Board of PKP LHS sp. z o.o.
PKP CARGOTABOR is a service company operating in the railway rolling stock maintenance industry, established to serve as a specialized supplier of maintenance and repair services for rolling stock for entities within the PKP CARGO S.A. group in restructuring.
Source: ManagerPlus
