POLISH COAL MARKET MIDWEEK SUMMARY 12/2016

Henryk Baranowski is a new CEO of PGE. Speculations went on and on since December and finally happened. There is luck in leisure, as someone could say…

…but definitely not when describing situation in Kompania Weglowa: unions met with the Management Board of KW on Monday (21st Mar) only to postpone the meeting for the next week (Thursday, 31st Mar). In the meantime, there will be set up a “special team” that will analyze all the issues and propose solutions. The only problem is, that the team will start working only two days before the next meeting, so we can guess that it won’t be able to fulfill its purpose and the outcome from the next meeting will be – like always so far – a new date of a new meeting.

The Monday’s meeting was held with the auditors conclusions in hands. The audit that was expected for so long was finally presented a week ago, but it was so unrevelatory, that we decided not comment it. What is more, it most probably be continued: the Head of Audit Team, senator Adam Gaweda announced on Tuesday, that he would like to take a closer look on how the trading and coal distribution activities were conducted in KW.

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