| The Budryk Company is a deep mine hard coal producer employing some 2000 workers and with a turnover exceeding $60m per year. Like all Polish hard coal producers it is state owned and was selected to be amongst the first group to be privatised. The TA to the Ministry undertook financial and technical audit of the company (markets, current and prospective production costs, environmental impacts, management systems and human resources. Analysis included the main coal producing activity and subsidiary operations.
Various options for privatisation were evaluated, from an international public offering to private placement of shares with strategic investors, reviewing the likelihood of success, and receipts to the Ministry, from each option. Recommendations were made to the Ministry but implementation has been held up by the new incoming Government. |
